MP Materials Corp. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 8.61 million compared to USD 0.034 million a year ago.

Revenue was USD 48.68 million compared to USD 95.7 million a year ago. Net income was USD 16.49 million compared to USD 37.45 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to USD 0.21 a year ago.

Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.2 a year ago.