Molycorp Earnings: Here’s Why the Stock is Rising Now
Molycorp, Inc. (NYSE:MCP) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.66%.
Molycorp, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 70.83% to $144.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Molycorp, Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company beat the mean analyst estimate of $-0.27. It beat the average revenue estimate of $137.52 million.
Quoting Management: “Our ongoing production ramp-up at Mountain Pass remains on course, and our increasing production is allowing us to produce for end-use customers as well as provide greater feedstock to our downstream, value-added processing facilities,” said Constantine Karayannopoulos, Molycorp`s President and CEO. “On the demand side, we are beginning to see signs of a return to more normal levels of demand as the year progresses.”
Key Stats (on next page)…