MP Materials Q2 revenue $64M (-55% YoY); net income $7.4M (-90%). Starts NdPr production.

MP Materials Corp. / DE

2023-Q2 EPS reported $0.24 revenue$159,724,000

Revenue of $64M, down 55% from $143.6M; net income of $7.4M, down 90% from $73.3M.
Adjusted EBITDA of $27M, down 75% from $110M; diluted EPS $0.04 vs $0.38.
REO production 10,863 MT (+5% YoY); realized price per REO MT $6,231 (-55%).
Commenced production of separated rare earth products; first NdPr oxide shipments expected in Q3 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MP Materials Corp. / DE reported the three months ended June 30, 2023 results: revenue $64,024, net income $7,395, EPS $0.04.

Period: the three months ended June 30, 2023
Revenue: $64,024
Net income: $7,395
EPS: $0.04
Result: reported results

Exact text from the filing

Highlights For the three months ended June 30, 2023 vs. 2022 (unaudited) 2023 2022 Amount Change % Change Financial Measures: (in thousands, except per share data) Revenue (1) $ 64,024 $ 143,562 $ (79,538) (55) % Net income $ 7,395 $ 73,269 $ (65,874) (90) % Adjusted EBITDA (2) $ 26,951 $ 109,952 $ (83,001) (75) % Adjusted Net Income (2)(3) $ 17,023 $ 79,609 $

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Source: SEC EDGAR

accession 0001801368-23-000027

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