MP Materials (MP)
NYSE:MP
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
>-0.01Last Year’s EPS
-0.12Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive outlook driven by rapid operational progress (significant NdPr oxide ramp, record REO production, first commercial-scale magnet production, strategic offtakes, and improved profitability supported by PPA income). Management acknowledged near-term operational headwinds — maintenance-related slowdowns, channel inventory buildup, the revenue impact from eliminating third-party concentrate sales, and timing lags in price realization — but framed these as manageable execution items with no 'showstoppers.' Strong liquidity, large incentivized site selection for 10X, and technical achievements (notably reducing heavy-rare-earth content by ~60%) underpin confidence in long-term growth. Balancing the significant positive operational and commercial milestones against near-term timing, inventory and project execution risks, the highlights materially outweigh the lowlights.Company Guidance
NdPr Oxide Production Ramp
NdPr oxide production increased materially to approximately 2,599 metric tons in 2025 (management described this as a doubling year-over-year and also cited a ~74% YoY increase in the quarter), exiting the year at an annualized run rate of nearly 4,000 metric tons separated NdPr oxide and targeting a steady-state run rate of ~1,500 metric tons per quarter.
Strong Oxide Sales Growth
Total oxide sales volumes rose ~75% year-over-year to nearly 2,000 metric tons in 2025, contributing to improved NdPr unit economics and sales momentum with new long-term offtake agreements signed.
Record REO Production and Global Position
The company produced over 50,000 metric tons of REO in 2025, a record annual performance and management believes MP Materials remains the world's second-largest producer of total REO (REO production up ~12% vs. 2024).
Materials Segment Profitability Improvement
Materials segment delivered a return to profitability with $40.3 million of adjusted segment EBITDA in the quarter, driven by higher realized prices, Price Protection Agreement (PPA) benefits and cost reductions.
Magnetics Commercial-Scale Production & Progress
Produced first magnets on commercial-scale equipment at the Independence facility late in 2025, began process optimization and PPAP qualification with a foundational automotive customer; Magnetics segment generated $8.4 million adjusted EBITDA in Q4 and $26.4 million for the full year with $66.9 million of revenue in 2025.
Key Strategic Partnerships and Customer Wins
Signed a significant long-term NdPr offtake with a major American technology/industrial company and expanded strategic relationships (4 direct strategic agreements across automotive, consumer electronics and physical AI). Also advanced a recycling engagement with Apple and received a $32 million progress payment tied to Apple in Q4.
10X Facility Site Selection and Incentives
Selected Northlake, Texas as the site for the new 10X magnet production facility, secured >$200 million in incentives and grants, with engineering and long-lead procurement underway and expected imminent ground breaking.
Technical Achievement — Reduced Heavy Rare Earth Use
R&D/production advances (grain boundary diffusion) enabled a magnet formulation/process that uses approximately 60% less heavy rare earth content than originally anticipated while meeting high-temperature, EV-grade specifications — a meaningful technical and cost advantage.
Price Protection Agreement (PPA) Contribution
PPA income totaled $51 million in the quarter, effectively supporting realized price floors (management highlighted ability to elect timing of PPA collections on stockpiled material).
Solid Balance Sheet and Liquidity
Strong liquidity position with more than $1.8 billion of cash on hand; other receivables expanded to >$131 million (including >$70 million from U.S. government tax credits/PPA payments and the $32 million Apple progress payment); deferred revenue on the balance sheet of approximately $74 million expected to recognize over the next four quarters.
Capital Investment Plan to Accelerate Growth
Guidance for total capital expenditures of $500 million to $600 million in 2026, primarily reflecting accelerated 10X investment and expansions (management continues to target commissioning of 10X in 2028 and midyear commissioning for heavy rare earth separation).
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
MP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $60.00 | $58.87 | -1.88% |
Nov 06, 2025 | $51.95 | $58.60 | +12.80% |
Aug 07, 2025 | $71.07 | $74.32 | +4.57% |
May 08, 2025 | $23.85 | $21.95 | -7.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does MP Materials (MP) report earnings?
MP Materials (MP) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is MP Materials (MP) earnings time?
MP Materials (MP) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MP EPS forecast?
MP EPS forecast for the fiscal quarter 2026 (Q1) is >-0.01.