MP Materials Corp. (NYSE:MP) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET

Company Participants

Martin Sheehan - Head, IR

Jim Litinsky - Founder, Chairman & CEO

Ryan Corbett - CFO

Michael Rosenthal - Founder & COO

Conference Call Participants

Matt Summerville - D.A. Davidson

Carlos De Alba - Morgan Stanley

George Gianarikas - Canaccord Genuity

David Deckelbaum - Cowen

Lawson Winder - Bank of America

Laurence Alexander - Jefferies

Operator

Good afternoon, ladies and gentlemen. Thank you for joining today's MP Materials Second Quarter 2023 Earnings Call and Webcast. My name is Tia, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]

I would now like to pass the conference over to your host, Head of Investor Relations, Martin Sheehan. Please proceed.

Martin Sheehan

Thank you, operator and good afternoon, everyone. Welcome to the MP Materials second quarter 2023 earnings conference call. With me today from MP Materials are Jim Litinsky, Founder, Chairman, and Chief Executive Officer; Michael Rosenthal, Founder and Chief Operating Officer; and Ryan Corbett, Chief Financial Officer.

As a reminder, today’s discussion will contain forward-looking statements relating to future events and expectations that are subject to various assumptions and caveats. Factors that may cause the company’s actual results to differ materially from these statements are included in today’s presentation, earnings release and in our SEC filings.

In addition, we have included some non-GAAP financial measures in this presentation. Reconciliations to the most directly comparable GAAP financial measures can be found in today’s earnings release and the appendix to today’s slide presentation. Any reference in our discussion today to EBITDA means adjusted EBITDA. Finally, the earnings release and slide presentation are available on our website.

With that, I will turn the call over to Jim. Jim?

Jim Litinsky

Thanks, Martin, and thank you all for joining us today. Let me give you a brief overview of today's call. To begin, I will discuss the second quarter and more recent highlights. Ryan will then run through the financials and KPIs, followed by Michael, who will review Stage 2 progress. I will then provide some closing commentary before Q&A.

So let's begin on Slide 4 and jump right to the middle of the slide under Stage 2 for important and exciting news. We have officially started production of separated rare earth at Mountain Pass. Michael and the team have done an incredible job on Stage 2, particularly over the last several months to advance commissioning.