MP Materials Q4 revenue $41.2M (-56% YoY), net loss $16.3M; FY2023 net income $24.3M

MP Materials Corp. / DE

2023-FY EPS reported $0.14 revenue$253,445,000

Q4 2023 revenue $41.2M, down 56% YoY; net loss $16.3M vs net income $67M in Q4 2022.
Full year 2023 revenue $253.4M, net income $24.3M, Adjusted EBITDA $102.5M; produced 41,557 MT REO.
Produced 200 MT of NdPr oxide in 2023; sold 10 MT NdPr oxide in Q4 at $70/kg.
Began trial production of NdPr metal at Fort Worth magnetics facility; installation of production equipment underway.
Ended 2023 with $997.8M cash & short-term investments, $307.8M net cash.

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 December 31, 2023 results: revenue $41,205, net income $(16,259), EPS $(0.09).

Period: the three months ended December 31, 2023
Revenue: $41,205
Net income: $(16,259)
EPS: $(0.09)
Result: reported results

Exact text from the filing

Revenue (1) $ 41,205 $ 93,245 $ (52,040) (56) % Net income (loss) $ (16,259) $ 67,007 $ (83,266) N/M Adjusted EBITDA (2) $ 1,300 $ 55,050 $ (53,750) (98) % Adjusted Net Income (Loss) (2) $ (3,998) $ 78,786 $ (82,784) N/M Diluted EPS $ (0.09) $ 0.36 $ (0.45) N/M

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MP Materials Corp. / DE reported the year ended December 31, 2023 results: revenue $253.4 million, net income $24.3 million.

Period: the year ended December 31, 2023
Revenue: $253.4 million
Net income: $24.3 million
Result: reported results

Exact text from the filing

Full Year 2023 Highlights • Produced 41,557 metric tons of rare earth oxides (“REO”) in concentrate • Produced 200 metric tons of NdPr oxide • Sold 36,837 metric tons of REO, generating revenue of $253.4 million • Produced net income of $24.3 million and Adjusted EBITDA of $102.5 million

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Source: SEC EDGAR

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