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MP Materials MP Q2 2026 earnings

Reported August 6, 2026 · After market close

Revenue$108.5MBeat by $11.6M
Adjusted EPS-$0.01Beat by $0.00
Revenue estimate$96.9M
EPS estimate-$0.01
“MP Materials built on its strong start to the year, ramping NdPr production and sales volumes while generating solid Adjusted EBITDA. We also signed a significant long-term agreement to supply gadolinium to a new U.S. aerospace and defense customer at attractive economics, expanding both our customer base and our heavy rare earth product portfolio.”
James Litinsky

Next report

Nov 5, 2026 (In 3 days)
Revenue estimate$117.4M
EPS estimate-$0.02

Financials

Q2 2026

Income statement

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Revenue$108.5M+89.0%
Gross profit$36.2M+420%
Operating income-$32.0M+27.0%
Net income-$20.3M+34.3%
EPS (diluted)-$0.11+42.1%

Balance sheet

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Cash & equivalents$429.6M+63.4%
Total debt$952.5M+3.7%
Total equity$2.0B+93.7%
Total assets$3.7B+59.5%

Cash flow

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Operating cash flow$6.8M+287%
CapEx$230.3M+694%
Free cash flow-$223.5M-584%

Valuation & ratios

Valuation

as of 10/30/26
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Market cap$7.42B-35.5%
Enterprise value$7.94B-30.1%
P/S24.3×-25.1×

Profitability

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Gross margin21.4%+10.1pp
Operating margin-41.5%-11.4pp
FCF margin-165.2%-1,871pp

Returns & leverage

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Debt / equity0.5×-0.4×
Current ratio9.5×+5.9×

Segments

By product

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NdPr Oxide And Metal$94.4M+18,131%
Magnetic precursor products$16.5M-16.8%
Other Revenue$1.2M+95.9%
Rare Earth Concentrate--100%

By segment

See full
Materials Segment$95.6M+155%
Magnetics Segment$16.5M-16.8%

FAQ

When did MP Materials report Q2 2026 earnings?
MP Materials (MP) reported Q2 2026 earnings on August 6, 2026 after market close.
What were MP Materials's Q2 2026 revenue and EPS?
MP Materials reported revenue of $108.5M and adjusted eps of $-0.01 for Q2 2026.
Did MP Materials beat estimates in Q2 2026?
Revenue beat the consensus estimate of $96.9M by $11.6M. EPS beat the consensus estimate of $-0.01 by $0.00.
How did MP Materials's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 89.0% from $57.4M a year earlier.
Where can I find MP Materials's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001801368-26-000047) and the 10-Q periodic report (0001801368-26-000048) directly on SEC EDGAR. The filing index links above go to sec.gov.