MP Materials reports Q1 EPS (12c), consensus (13c)

Reports Q1 revenue $60.8M, consensus $61.8M. “MP Materials (MP) delivered strong execution across both our Materials and Magnetics divisions in the first quarter, marked by record NdPr oxide production and the initial sales of magnetic precursor materials,” said James Litinsky, Founder, Chairman, and CEO of MP Materials. “Given recent events, it is now undeniable that the United States must reshore critical industries like rare earth magnetics – something we have been building toward since day one.” Litinsky continued, “With rapidly intensifying engagement from both industry and government, MP Materials is leading this effort – underscoring our growing strategic and economic importance at a pivotal moment for American industrial policy.”