MP
MP Materials Corp.53.42
+0.16+0.3%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
9.47BP/E (TTM)
-Basic EPS (TTM)
-0.70Dividend Yield
0%Recent Filings
8-K
Q4 profit on NdPr ramp
MP Materials posted Q4 net income of $9.4M and Adjusted EBITDA of $39.2M, swinging positive from prior-year losses, fueled by $51M DoW price protection income after halting China concentrate sales. Full-year NdPr oxide production doubled to 2,599 MTs; first commercial NdFeB magnets produced. Secured $200M Texas incentives for 10X facility.
10-K
FY2025 results
MP Materials delivered FY2025 results with record REO concentrate production of 50,692 MTs and NdPr oxide output doubling to 2,599 MTs, though revenue dipped 21% y/y to $160M in Materials from ceasing China shipments in July. Q4 ignited momentum: Magnetics kicked off with $66.9M precursor sales to GM, while $51M PPA income floored NdPr at $110/kg, flipping Materials Adjusted EBITDA positive. Independence commenced NdFeB magnet manufacturing in December, backed by DoW's $400M preferred and Apple/GM prepays. Cash swelled to $1.8B post $724M equity raise. DoW covenants restrict foreign sales, threatening Q4 acceleration.
8-K
Saudi rare earth JV announced
MP Materials partnered with the U.S. Department of War and Maaden on November 19, 2025, to form a joint venture building a rare earth refinery in Saudi Arabia under a new U.S.-Saudi critical minerals framework. MP and DoW target 49% equity—fully DoW-financed—with Maaden at least 51%; MP contributes technical expertise. Capital-light for MP. Risks include finalizing definitive agreements.
10-Q
Q3 FY2025 results
MP Materials posted Q3 revenue of $53.6M, down 15% y/y from $62.9M as Materials sales dropped 50% y/y to $31.6M after halting China shipments, yet Magnetics kicked off with $21.9M from precursor products to GM. Operating loss widened to $67.0M from $39.5M, driven by $19.0M in advanced projects costs, while net loss hit $41.8M or $(0.24) diluted EPS versus $(0.16) last year—EPS reconciles to 175M shares. Cash swelled to $1.9B after $724M equity raise and $550M DoW funding, including $400M Series A preferred and $150M Samarium loan (due 2037 at 5.38%), with $235M revolver availability but $500M cash covenant. DoW pact closed July 2025, birthing $221M PPA asset for NdPr price floor starting Q4. Magnetics turned profitable. China export controls crimp non-NdPr sales.
8-K
Q3 revenue dips; NdPr hits record
MP Materials posted Q3 revenue of $53.6 million, down 15% year over year after halting China sales, yet hit record NdPr production of 721 metric tons, up 51%. Magnetics segment surged with $21.9 million revenue and $9.5 million Adjusted EBITDA. DoW Price Protection started October 1; profitability eyed Q4 onward. Heavy rare earths commission mid-2026.
IPO
Website
Employees
Sector
Industry
CRML
Critical Metals Corp.
7.90-0.27
LAC
Lithium Americas Corp.
4.78-0.04
MGMNF
Magna Mining Inc.
1.84-0.04
MILIF
MILITARY METALS CORP.
0.25-0.01
MIMTF
MITSUBISHI MATERIALS CORP
18.00+0.00
MTRN
Materion Corporation
125.79-0.20
NMREF
Namibia Critical Metals Inc.
0.16-0.00
ORMNF
Orex Minerals Inc
0.15-0.00
REEMF
Rare Element Resources Ltd.
0.88-0.02
USAR
USA Rare Earth, Inc.
15.00+0.13