MP Materials reports Q3 adjusted EPS 4c, consensus 0c

Reports Q3 revenue $52.5M, consensus $51.14M. “In the third quarter, we produced separated NdPr on U.S. soil, repatriating a critical national security capability. This is a tremendous milestone for the company and American supply chain independence writ large,” said James Litinsky, Founder, Chairman and CEO of MP Materials. “Our financial results reflect solid operational performance against a weak pricing backdrop. In addition, we are excited to announce “Upstream 60K” where we will target a 50% increase in REO production within four years with modest incremental investment. In addition, we have begun trial production of NdPr metal and continue to make steady progress in our magnetics business, both technically and commercially.”