KEY POINTS
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MP Materials posted adjusted earnings of four cents per share, beating analysts’ expectations of a two-cent loss.
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Quarterly revenue nearly tripled to $147.6-million, supported by government payments and new aerospace sales.
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The company received $8.1-million in US price protection payments and generated $31.6-million from its new SEG+ supply agreement.
MP Materials reported a better-than-expected adjusted profit for the third quarter of 2026, supported by higher sales, financial assistance from the US government and a new supply agreement with an American aerospace customer.
The rare earths producer posted an adjusted profit of four cents per share, outperforming analysts’ expectations of a loss of two cents per share. The results sent its shares up 3% in after-hours trading on Thursday, November 5, after the stock had fallen more than 6% during the regular trading session amid a broader market selloff.
US government support boosts earnings
The company’s performance received a boost from $8.1-million in price protection payments from the US government during the quarter. MP Materials has received nearly $120-million through the support arrangement since payments began last year.
The agreement was established in July 2025, when the US government invested in the company and committed to providing financial support linked to market prices. The arrangement forms part of Washington’s efforts to reduce China’s dominance of the rare earths supply chain.
Rare earths comprise a group of 17 metals used in manufacturing permanent magnets, which convert electrical energy into motion. These materials are essential to several industries, including defence, electric vehicle production and consumer electronics.
Revenue nearly triples
MP Materials reported a net loss of $20.7-million, equivalent to 12 cents per share, for the quarter. This represented an improvement on the $41.8-million loss, or 24 cents per share, recorded in the corresponding period last year.
However, after excluding one-time items, the company posted earnings of four cents per share, exceeding the loss of two cents per share forecast by analysts, according to LSEG’s IBES data.
Revenue almost tripled to $147.6-million during the quarter, reflecting stronger sales and contributions from new business activities.
New aerospace supply agreement
One of the major developments during the quarter was the commencement of supplies of SEG+, an intermediate product containing several rare earth elements, to an unnamed US aerospace customer.
The new arrangement generated $31.6-million in revenue for MP Materials during the reporting period, providing an additional source of income as the company expands its downstream operations.
The Las Vegas-based company operates North America’s only rare earths mine and processes the minerals in California. It has also established a magnet manufacturing facility in Texas as part of efforts to expand domestic production and reduce reliance on foreign suppliers.
Trump disclosed investment gains
The company has also attracted attention following US President Donald Trump’s financial disclosure in June, which showed capital gains ranging from $100,001 to $1-million from investments in MP Materials shares made the previous year.
MP Materials’ expanding operations and access to government support position it as an important participant in US efforts to strengthen domestic rare earths production and secure supplies of materials considered strategically important to national security and industrial development.
