MP Materials Reports Third Quarter 2024 Results
MP Materials Corp. (MP)
Company Research
Source: Business Wire
Revenue increased 20% year-over-year to $62.9 millionRecord REO production of 13,742 metric tons, a 28% increase year-over-yearRecord NdPr production of 478 metric tons, a 76% sequential increaseNdPr sales volumes nearly tripled sequentially to 404 metric tonsFort Worth metal production in commissioning with deliveries on track for year-end LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) today announced financial and operational results for the three months ended September 30, 2024.“The MP team delivered record production of rare earth concentrate and NdPr oxide in the third quarter,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. “Despite continued weak market pricing, increased NdPr sales volumes drove a return to year-over-year revenue growth. We are also pleased with our progress on scaling midstream production and reducing costs, providing line of sight to positive refining gross margins early next year.”Third Quart
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MP
News
- Earnings Update: MP Materials Corp. (NYSE:MP) Just Reported And Analysts Are Trimming Their Forecasts [Yahoo! Finance]Yahoo! Finance
- MP Materials Corp (MP) Q3 2024 Earnings Call Highlights: Record Production and Strategic ... [Yahoo! Finance]Yahoo! Finance
- MP Materials to Participate in Upcoming ConferencesBusiness Wire
- MP Materials Corp. (NYSE: MP) had its price target raised by analysts at BMO Capital Markets from $16.00 to $18.50. They now have a "market perform" rating on the stock.MarketBeat
- MP Materials Announces Date for Third Quarter 2024 Financial Results and WebcastBusiness Wire
MP
Earnings
- 11/7/24 - Beat
MP
Sec Filings
- 11/8/24 - Form SC
- 11/8/24 - Form 10-Q
- 11/7/24 - Form 8-K
- MP's page on the SEC website