MP Materials Q3 2024 Earnings Report
Key Takeaways
MP Materials reported a 20% year-over-year increase in revenue to $62.9 million, driven by increased NdPr sales volumes and a rise in REO concentrate sales volumes. The company achieved record REO production of 13,742 metric tons. However, the company experienced a net loss of $25.5 million and an adjusted EBITDA of $(11.2) million, impacted by higher cost of sales and increased operating expenses.
Revenue increased 20% year-over-year to $62.9 million.
Record REO production of 13,742 metric tons, a 28% increase year-over-year.
NdPr sales volumes nearly tripled sequentially to 404 metric tons.
Net loss was $(25.5) million, and adjusted EBITDA was $(11.2) million.
MP Materials
MP Materials
MP Materials Revenue by Segment
Forward Guidance
This press release contains forward-looking statements regarding the price and market for rare earth materials, the continued demand for rare earth materials and the market for rare earth materials generally, future demand for electric vehicles and magnets, estimates and forecasts of the Company’s results of operations and other financial and performance metrics, including NdPr oxide production and shipments, expected NdPr oxide production and sales in the fourth quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income