MP Materials Second Quarter 2024 Earnings: Misses Expectations

MP Materials (NYSE:MP) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$31.3m (down 51% from 2Q 2023).
• Net loss: US$34.1m (down from US$7.40m profit in 2Q 2023).
• US$0.21 loss per share (down from US$0.042 profit in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

MP Materials Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 67%.

Looking ahead, revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in the US.

Performance of the American Metals and Mining industry.

The company's shares are down 20% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for MP Materials that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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