EarningsQ2 2026 Earnings Report
MX:MP Q2 2026 EPS Results
Actual EPS-$0.18
Consensus EPS-$0.18
Beat/MissMet expectations
One Year Ago EPS-$2.35
MX:MP Q2 2026 Revenue Results
Actual Revenue$2.28B
Expected Revenue$1.75B
Beat/MissBeat by +$528.09M
YoY Revenue Growth+119.66%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:MP Upcoming Earnings
MP Materials's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed substantial operational and commercial progress (strong YoY production and sales growth, doubling of revenue, new long‑term offtake, magnetics qualification progress, and a fortified balance sheet) alongside expected start‑up and transitional challenges (planned downtime, start‑up costs in Magnetics, localized reliability issues, modest near‑term PPA income declines, and elevated CapEx). On balance, the highlights materially outweigh the lowlights as the company scales production, expands product breadth, secures long‑term contracts, and maintains robust liquidity.Company Guidance
Strong NdPr Production Growth
Produced 840 metric tons of NdPr in Q2 2026, a 41% year-over-year increase, and on track for Q3 production to exceed 1,000 metric tons as throughput improves.
Surging NdPr Sales Volumes
NdPr sales exceeded 1,000 metric tons for the second consecutive quarter, up 127% year-over-year, driving materially higher revenue.
Materials Segment Financial Improvement
Materials generated $113.2 million of revenue plus PPA income and $32.5 million of adjusted EBITDA, a year-over-year adjusted EBITDA improvement of $45 million.
Consolidated Revenue and EBITDA Momentum
Consolidated revenue plus PPA income was $126.1 million (more than double prior-year revenue) and consolidated adjusted EBITDA improved by $41 million year-over-year to $28.5 million.
Major Commercial & Strategic Wins
Signed a long-term gadolinium oxide supply agreement with a leading U.S. aerospace & defense manufacturer (described as a sizable 9‑figure multi-year deal); continued progress on customer qualifications with GM and ongoing partnerships with Apple and Department of War.
Magnetics Progress and High Margins on Precursor
Delivered magnets to GM for in-vehicle qualification testing and expect initial commercial magnet shipments in Q4; precursor production generated adjusted EBITDA margins exceeding 40% highlighting segment economics as volume scales.
Heavy Rare Earths and Product Expansion
Commissioning heavy rare earth separation circuit (Dy/Tb) with feed imminent and on track to produce terbium and dysprosium later this year; advancing samarium and gadolinium separation programs and expanding recycling capability.
Strong Balance Sheet and Funded CapEx Plan
Ended Q2 with $1.45 billion of cash and short-term investments; Q2 CapEx was $230.3 million (YTD $308 million) including ~ $80 million acquisition of the 10X site; full‑year CapEx guidance of $500–$600 million and management states cash fully funds long-term plan.
MX:MP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed