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StocksMediumUpdated×2•Originally published 5 November 2026•Updated 5 November 2026•
2 min read

MP Materials Posts $147.66 Million in Revenue, Beats Third-Quarter Estimates

Key Facts

1Third-quarter revenue was $147.66 million, compared with estimates of $117.47 million.
2The company reported earnings of 4 cents per share, compared with expectations for a loss of 2 cents per share.
3NdPr production rose to 1,018 metric tons, and sales increased to 1,020 tons.
4The SEG+ sale to a U.S. customer in the aerospace and defense sectors was valued at $31.6 million.

MP Materials reported revenue of $147.66 million in the third quarter of 2026, beating analysts’ estimates of $117.47 million, according to Benzinga. The company reported earnings of 4 cents per share, compared with expectations for a loss of 2 cents per share. It released results for the quarter ended September 30 after U.S. markets closed on Thursday, November 5. The beat reflects growth in the materials business alongside progress toward magnet production. Management had scheduled its earnings call for the same day at 2:00 p.m. Pacific time.

The company attributed revenue growth to higher sales of NdPr oxide and metal and improved market prices. NdPr production reached about 1,018 metric tons, up 41% year over year, while sales reached 1,020 tons, up 94%. A $31.6 million SEG+ sale also contributed to quarterly revenue. The product went to a U.S. customer in the aerospace and defense sectors, according to the company’s statement. The figures show that higher volumes and prices, along with sales of other products, helped support the quarterly results.

By segment, the materials business posted revenue of $133.539 million and adjusted EBITDA of $47.828 million. The magnetics business generated revenue of $18.623 million and adjusted EBITDA of $5.348 million. The company said GM qualification marks a step toward saleable deliveries and commercial magnet revenue in the fourth quarter. Converting qualification progress into commercial sales remains the next operational milestone the company has announced. Benzinga also compared third-quarter revenue with second-quarter performance, when revenue was $108.5 million and adjusted EBITDA was $28.5 million.

MP Materials ended the quarter with about $1.34 billion in cash and cash equivalents and short-term investments, according to Benzinga. After the results were released, the stock rose 2.64% in after-hours trading on Thursday, to $34.63 at the time the report was published. The company’s shares had closed at $35.91 on November 4, according to EL7 data. Management held the announced earnings call on November 5 at 2:00 p.m. Pacific time. The next step the company cited is the start of commercial magnet revenue in the fourth quarter.

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