MP Materials Q1 revenue falls 49% to $48.7M; repurchases 7.3% of shares, refinances debt

MP Materials Corp. / DE

2024-Q1 EPS reported -$0.08 revenue$48,684,000

Revenue $48.7M (-49% YoY); net income $16.5M (-56% YoY); diluted EPS -$0.08 vs $0.20.
Adjusted EBITDA -$1.2M vs +$58.7M; adjusted net loss -$7.5M vs +$51.3M.
REO production 11,151 MT (+4% YoY); realized price per REO MT $4,294, down 54%.
Repurchased 13M shares (7.3% of outstanding) for $15.43/sh; issued $747.5M new 3% convertible notes due 2030; repurchased $480M of existing notes for $428.6M.
Awarded $58.5M tax credit to advance U.S. rare earth magnet manufacturing; magnetics facility capacity fully committed.

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 0.95

MP Materials Corp. / DE reported three months ended March 31, 2024 results: revenue $48,684, net income $16,489, EPS $(0.08).

Period: three months ended March 31, 2024
Revenue: $48,684
Net income: $16,489
EPS: $(0.08)
Result: reported results

Exact text from the filing

Highlights For the three months ended March 31, 2024 vs. 2023 (unaudited) 2024 2023 Amount Change % Change Financial Measures: (in thousands, except per share data) Revenue (1) $ 48,684 $ 95,700 $ (47,016) (49) % Net income $ 16,489 $ 37,447 $ (20,958) (56) % Adjusted EBITDA (2) $ (1,233) $ 58,700 $ (59,933) N/M Adjusted Net Income (Loss) (2) $ (7,492) $ 51,327 $

View on SEC.gov

710 earnings releases filed in the last 30 days. Browse all earnings releases →

MP Materials Corp. / DE filing history →

Source: SEC EDGAR

accession 0001801368-24-000042

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.