---
schema_version: "secwatch.filing_event.v1"
accession: "0001801368-24-000042"
form_type: "8-K"
ticker: "MP"
cik: "0001801368"
company_name: "MP Materials Corp. / DE"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:48:07.481120+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001801368-24-000042
- form_type: 8-K
- ticker: MP
- cik: 0001801368
- company_name: MP Materials Corp. / DE
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1801368/000180136824000042/0001801368-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1801368/000180136824000042/mp-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001801368-24-000042
- JSON: https://secwatch.observer/filing/0001801368-24-000042.json
- Plain text: https://secwatch.observer/filing/0001801368-24-000042.txt

## Key facts
- Earnings Releases
  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
  source text: 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 $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1801368/000180136824000042/0001801368-24-000042-index.htm

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