---
schema_version: "secwatch.filing_event.v1"
accession: "0001801368-23-000018"
form_type: "8-K"
ticker: "MP"
cik: "0001801368"
company_name: "MP Materials Corp. / DE"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:46:08.335733+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001801368-23-000018
- form_type: 8-K
- ticker: MP
- cik: 0001801368
- company_name: MP Materials Corp. / DE
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801368/000180136823000018/0001801368-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801368/000180136823000018/mp-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801368-23-000018
- JSON: https://secwatch.observer/filing/0001801368-23-000018.json
- Plain text: https://secwatch.observer/filing/0001801368-23-000018.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801368/000180136823000018/0001801368-23-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.