MP Supplies Corp (NYSE:MP) shares are rising on Friday after initially buying and selling decrease following the corporate’s combined third-quarter monetary outcomes.
What Occurred: MP Supplies reported a lack of 10 cents per share versus estimates for a lack of 18 cents per share and a lack of 12 cents per share in the identical interval final yr, representing a 16.67% improve in losses yr over yr.
The corporate reported quarterly gross sales of $53.6 million, versus the analyst consensus estimate of $54.92 million. This represents a 14.90% drop when in comparison with gross sales of $62.93 million in the identical interval final yr.
MP produced a report 721 metric tons of NdPr, up 51% yr over yr, and delivered its second-best REO output at 13,254 metric tons. The corporate generated income of $53.6 million in the course of the quarter.
The Magnetics Phase grew, bringing in $21.9 million in income and $9.5 million in adjusted EBITDA. MP expects to be worthwhile once more beginning in fourth-quarter of 2025.
“This efficiency underscores the momentum we’re constructing at a pivotal time for our Firm and Nation,” mentioned James Litinsky, founder, chairman and CEO of MP Supplies. With key parts of our agreements with the Division of Warfare [Defense] commencing within the present quarter, we now have enhanced money move visibility to speed up scaled magnet manufacturing in america — starting with first industrial output from Independence by year-end.”
MP plans to begin up its new heavy uncommon earth facility at Mountain Move in mid-2026. It’ll course of about 3,000 metric tons of feedstock per yr, focusing first on dysprosium (Dy) and terbium (Tb).
MP’s new facility may also course of third-party feedstocks. After beginning with dysprosium and terbium, the corporate plans to provide extra heavy uncommon earths, starting with samarium (Sm), as a part of its settlement with the Division of Protection.
Following the information, DA Davidson analyst Matt Summerville maintained a Purchase score on the corporate and reiterated his $82 value goal.
MP Value Motion: MP Supplies shares had been up 9.27% at $56.81 on the time of publication on Friday, in keeping with Benzinga Professional.
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