MP Materials Sets Q3 Report for Nov. 5 as Q2 Price-Floor Income Hit $17.58 Million

MP Materials will release third-quarter results after U.S. markets close Nov. 5, following a second quarter in which a federal price-protection agreement generated $17.580 million in income.

The report covers the three months ended Sept. 30, 2026. A management webcast is scheduled for 5 p.m. ET (2200 UTC) Thursday. MP Materials’ Q2 release included no numerical guidance for 2026.

Revenue in Q2 rose 89% from the year-earlier quarter to $108.490 million. The company recorded a net loss of $20.296 million and adjusted EBITDA of $28.493 million, alongside the $17.580 million in price-protection income. For the six months ended June 30, price-protection income was $59.853 million.

MP Materials produced 840 metric tons of separated neodymium-praseodymium (NdPr) products and sold 1,006 metric tons in Q2. Those volumes were up 41% and 127%, respectively, from a year earlier. Magnet qualification advanced at the Independence facility, and construction of the 10X facility accelerated.

The price-protection agreement applies to qualifying NdPr products produced at Mountain Pass that MP Materials sells or stockpiles. It began Oct. 1, 2025, and runs through Dec. 31, 2035. The contract’s scope is defined by both where the products are made and whether they are sold or stockpiled.

When the benchmark price is below $110 per kilogram, the Department of War pays the shortfall for covered products. After the 10X facility reaches full production, MP Materials must share 30% of any benchmark price above $110 per kilogram. The agreement is specific to MP Materials and does not by itself establish a broader change in U.S. critical-minerals policy.

James Litinsky, MP Materials’ founder, chairman and CEO, described the quarter as one of production and sales growth. “MP Materials built on its strong start to the year, ramping NdPr production and sales volumes while generating solid Adjusted EBITDA,” Litinsky said in August.