MP Materials Q1 revenue down 42% YoY to $95.7M; net income falls 56% to $37.4M

MP Materials Corp. / DE

2023-Q1 EPS reported $0.20 revenue$95,700,000

Diluted EPS $0.20 ($0.27 adjusted); net income $37.4M vs $85.6M a year ago.
REO sales volume 10,215 MT (-13% YoY); realized price $9,365/MT (-32% YoY).
Production cost per REO MT $1,978 (+24% YoY) reflecting cost inflation.
Stage II and Stage III construction progressing; CEO notes weaker commodity pricing.
Adjusted EBITDA $58.7M, down 56% from $132.3M in Q1 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MP Materials Corp. / DE reported the three months ended March 31, 2023 results: revenue $95.7M, net income $37.4M, EPS $0.20.

Period: the three months ended March 31, 2023
Revenue: $95.7M
Net income: $37.4M
EPS: $0.20
Result: reported results

Exact text from the filing

MP Materials Reports First Quarter 2023 Results REO Sales and Production Volumes of 10,215 and 10,671 Metric Tons, Respectively Revenue of $95.7M and Net Income of $37.4M Adjusted EBITDA of $58.7M Diluted EPS of $0.20 and Adjusted Diluted EPS of $0.27

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Source: SEC EDGAR

accession 0001801368-23-000018

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