MP Q3 2025 Earnings
Reported Nov 6, 2025 at 4:04 PM ET · SEC Source
Q3 25 EPS
$-0.10
BEAT +38.35%
Est. $-0.16
Q3 25 Revenue
$53.6M
BEAT +1.04%
Est. $53.0M
vs S&P Since Q3 25
+30.6%
BEATING MARKET
MP +38.0% vs S&P +7.4%
Market Reaction
Did MP Beat Earnings? Q3 2025 Results
MP Materials delivered a cleaner-than-expected quarter in Q3 2025, posting an adjusted loss of $0.10 per share against a consensus estimate of negative $0.16, a 38.35% beat, while revenue of $53.55 million edged past the $53.00 million estimate despi… Read more MP Materials delivered a cleaner-than-expected quarter in Q3 2025, posting an adjusted loss of $0.10 per share against a consensus estimate of negative $0.16, a 38.35% beat, while revenue of $53.55 million edged past the $53.00 million estimate despite falling 14.9% year over year. The revenue decline was almost entirely a strategic choice: the company halted all rare earth concentrate sales to China under its Department of War agreements, effectively zeroing out a major legacy revenue stream. The shortfall was partially absorbed by the newly operational Magnetics segment, which contributed $21.91 million in magnetic precursor revenue with no comparable figure a year ago, and by record NdPr production of 721 metric tons, up 51% year over year. With the DoW Price Protection Agreement now active as of October 1, management expects a return to profitability as soon as Q4 2025, and investors watching the stock are also eyeing a mid-2026 heavy rare earth separation facility and first commercial magnet output from Independence by year-end.
Key Takeaways
- • Record NdPr production of 721 metric tons, 51% increase year over year
- • NdPr Sales Volumes increased 30% year over year
- • NdPr market prices increased 26% year over year
- • Magnetics Segment generated $21.9 million in revenue from magnetic precursor products with no comparable prior year sales
- • Cessation of all rare earth concentrate sales to China resulted in zero concentrate revenue
MP YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
MP Revenue by Segment
With YoY comparisons, source: SEC Filings
“MP Materials delivered another strong quarter, achieving record NdPr oxide production at Mountain Pass and record NdPr metal output at Independence. This performance underscores the momentum we are building at a pivotal time for our Company and Country. With key portions of our agreements with the Department of War commencing in the current quarter, we now have enhanced cash flow visibility to accelerate scaled magnet production in the United States—beginning with first commercial output from Independence by year-end.”
— James Litinsky, Q3 2025 Earnings Press Release
MP Earnings Trends
MP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MP EPS Trend
Earnings per share: estimate vs actual
MP Revenue Trend
Quarterly revenue: estimate vs actual
MP Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.02 | $0.09 | +350.00% | $52.7M | -10.59% |
| FY Full Year | $-0.32 | $-0.24 | +26.06% | $224.4M | -2.71% |
| Q3 25 BEAT | $-0.16 | $-0.10 | +38.35% | $53.6M | +1.04% |
| Q2 25 BEAT | $-0.20 | $-0.19 | +4.52% | $57.4M | +25.79% |
| Q1 25 BEAT | $-0.13 | $-0.12 | +4.15% | $60.8M | -1.60% |