LAS VEGAS--(BUSINESS WIRE)--MP Materials Corp. (NYSE: MP) (“MP Materials” or the “Company”) today announced that its Board of Directors has authorized a share repurchase program of up to $300 million of the Company’s outstanding common stock (“shares”), enabling the Company to opportunistically create value for shareholders. The $300 million authorization is effective for 1 year and does not require the purchase of any minimum number of shares. MP Materials may purchase shares from time to time at the dis ...

Production and Strategy - The Company has achieved quarterly REO Production Volume exceeding 8,500 MTs and at least 40,000 MTs of annual REO Production Volume since 2021[31]. - The "Upstream 60K" strategy aims to grow annual REO Production Volume to approximately 60,000 MTs within the next four years with modest incremental capital investment[32]. - The Fort Worth Facility is expected to produce approximately 1,000 MTs of finished rare earth magnets per year, sufficient to power over 700,000 electric vehicle motors annually[38]. - The Company plans to integrate further downstream by converting NdPr oxide into permanent magnets and precursor products[38]. - The Company began producing separated rare earth products, including neodymium-praseodymium (NdPr) oxide, in Q4 2023 following the commissioning of its Stage II optimization project[383]. - The Company entered a long-term agreement with General Motors to supply U.S.-sourced rare earth materials for electric motors in multiple models, part of its Stage III downstream expansion strategy[383]. Financial Performance - Total revenue for 2023 was $253,445,000, a decrease of 52% from $527,510,000 in 2022[372]. - Net income for 2023 was $24,307,000, down 91% from $289,004,000 in 2022[374]. - Operating income for 2023 was a loss of $17,719,000 compared to a profit of $327,411,000 in 2022[372]. - Basic earnings per share for 2023 was $0.14, a decline of 91% from $1.64 in 2022[372]. - Total operating costs and expenses increased to $271,164,000 in 2023, up from $200,099,000 in 2022, representing a 35.5% increase[372]. - The company reported a significant increase in depreciation, depletion, and amortization expenses to $55,709,000 in 2023 from $18,356,000 in 2022[372]. - The company recognized a loss on disposals of long-lived assets of $808,000 in 2023[379]. - Revenue from rare earth concentrate was $252.5 million in 2023, down from $517.3 million in 2022[484]. Employee and Safety Metrics - The Company has increased its full-time equivalent employee base from 8 in 2017 to 681 as of December 31, 2023, representing a 40% increase in 2023[53]. - The employee retention rate has been 95% or higher in every quarter of 2023, reflecting the Company's commitment to its workforce[52]. - In Q4 2023, the Company achieved professional certification for its employee engagement efforts, focusing on opportunities for employees to interact with executive management[59]. - The Company has completed over 1,300 days without a lost-time injury as of December 31, 2023, emphasizing its commitment to employee safety[56]. Sustainability and Environmental Initiatives - The Company is committed to sustainability, aiming to operate efficiently to reduce emissions and resource consumption, with a focus on water recycling and energy reduction initiatives[62][63]. - The Company utilizes a dry tailings process that recycles approximately 95% of the water used in its beneficiation process at Mountain Pass[64]. Market and Customer Risks - The Company is exposed to market risks, including commodity price risks, as the prices of rare earth concentrate are not quoted on major commodities markets[348]. - As of December 31, 2023, Shenghe accounted for over 90% of the Company's revenue, highlighting a significant customer concentration risk[389]. - The market price of rare earth products significantly impacts the Company's cash flows and profitability, with prices influenced by factors beyond its control[385]. - The Company’s revenue is affected by Shenghe's realized prices in China, which are subject to exchange rate fluctuations between the Chinese Yuan and the U.S. dollar[389]. - The ongoing economic conflict between China and the U.S. may negatively affect the Company's business and results of operations due to tariffs and trade barriers[389]. Financial Position and Investments - As of December 31, 2023, the company reported cash, cash equivalents, and short-term investments totaling $997.8 million, a decrease from $1,182.3 million in 2022[369]. - The company's total assets increased to $2.34 billion in 2023, compared to $2.24 billion in 2022, reflecting a growth of approximately 4.9%[369]. - The company’s long-term debt as of December 31, 2023, was $682.0 million, slightly up from $678.4 million in 2022[369]. - The company’s inventories increased to $95.2 million in 2023, compared to $57.6 million in 2022, representing a growth of approximately 65.3%[369]. - The company invested $9.7 million for a 49% equity interest in VREX Holdco, which operates a metal processing plant in Vietnam[434]. - The Company acquired a license for patented technology and intellectual property for $9.0 million, issuing 435,729 shares of common stock[441]. Tax and Regulatory Matters - The Company received a California Competes Tax Credit of $4.8 million for 2023, reflecting its compliance with annual milestones[474]. - The Section 45X Advanced Manufacturing Production Credit provides a credit equal to 10% of eligible production costs for critical minerals, effective for tax years beginning after December 31, 2022[475]. - The company intends to elect for the direct pay option for the 45X Credit on its 2023 tax return, which allows for a refund of the credit in excess of tax liability[492]. - The company had net operating loss carryforwards for federal income tax purposes of $119.6 million as of December 31, 2023[473]. Legal and Disputes - The company is currently in dispute with a general contractor regarding a construction project, which may have a material impact on its financial statements if the outcome is unfavorable[478].

[Table_Title] 研究报告 Research Report MP Materials (MP US) Scott Darling Axel Leven [Table_yemei1] 热点速评 Flash Analysis 我们预计 MP Materials 2023 年第四季度的业绩市场反应为中性，公司录得调整后的净亏损为 400 万美元，而市场 预期亏损为 860 万美元，这是由于连续强劲的运营业绩被全球稀土氧化物价格持续疲软所抵消。该公司在 2024 年 向客户销售了约 100 吨氧化镨钕，并表示在 2024 年和 2025 年的生产中有很大一部分是"确认的购买承诺"。鉴于中 国最近对稀土出口和技术实施限制，参见内容 ，我们认为该公司中期前景乐观，加之结构性的稀土供需紧张，我 们重申其"优于大市"评级。 二阶段继续爬坡; 三阶段今年开始投产: MP Materials 调整后的净亏损为 400 万美元，市场预期为 860 万美元，收入 为 4,120 万美元(市场预期为 4,550 万美元)，调整后的 EBITDA 为 130 万美元(市场预期为 100 万美元)，这是由于全 球稀土氧化物价格疲 ...

MP Materials Corp. (MP) reported adjusted loss per share of 5 cents in fourth-quarter 2023, in-line with the Zacks Consensus Estimate. The company had reported an earnings per share of 39 cents in the fourth quarter of 2022. Earnings were impacted by lower prices and sales volumes in the quarter.Including one-time items, the company reported a loss of 9 cents per share in the fourth quarter of 2023 against earnings of 36 cents per share in the fourth quarter of 2022.The company generated revenues of $41 mil ...

MP Materials Corp. (MP) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned -5.2% over the past month versus the Zacks S&P 500 composite's +4.7% change. The Zacks Mining - Miscellaneous industry, to which MP Materials Corp. belongs, has lost 5.9% over this period. Now the key question is: Where could the stock be headed in the near ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about MP Materials Corp. (MP) .MP Materials Corp. currently has an average brokerage recommendation ( ...

MP Materials Corp. (NYSE:MP) Q4 2023 Earnings Call Transcript February 22, 2024 5:00 PM ET Company Participants Martin Sheehan - IR Jim Litinsky - Founder, Chairman and CEO Ryan Corbett - CFO Michael Rosenthal - Founder and COO Conference Call Participants David Deckelbaum - TD Cowen George Gianarikas - Canaccord Carlos De Alba - Morgan Stanley Corinne Blanchard - Deutsche Bank Bill Peterson - JPMorgan Operator Hello, everyone. Thank you for attending today's MP Materials Fourth Quarter 2023 Earnings Call. ...

(in thousands, unaudited) 1. Represents non-cash revenue recognized in connection with a tariff rebate received relating to product sales from prior periods. 2. See "Use of Non-GAAP Financial Measures" for definition and further information. For the three months ended September 30, For the year ended December 31, | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------- ...

Exhibit 99.1 MP Materials Reports Fourth Quarter and Full Year 2023 Results Exceeded 40,000 metric tons of REO production for the third consecutive year Commenced production of separated rare earth products Produced 200 metric tons of NdPr oxide in 2023 Generated $253.4 million of revenue in 2023 Produced $24.3 million of net income and Adjusted EBITDA of $102.5 million in 2023 LAS VEGAS – February 22, 2024 – MP Materials Corp. (NYSE: MP) ("MP Materials" or the "Company"), today announced its financial resu ...

The most recent trading session ended with MP Materials Corp. (MP) standing at $16.55, reflecting a -0.9% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.82% gain on the day. Meanwhile, the Dow experienced a rise of 0.41%, and the technology-dominated Nasdaq saw an increase of 0.95%.Shares of the company have depreciated by 7.38% over the course of the past month, underperforming the Basic Materials sector's loss of 4.99% and the S&P 500's gain of 5.59%.The investment comm ...