Entering text into the input field will update the search result below

Livent -16% after Q1 miss, sharply reduced guidance

May 07, 2019 6:17 PM ETArcadium Lithium plc (ALTM) StockALTMBy: Carl Surran, SA News Editor16 Comments
  • Livent (NYSE:LTHM) plunges after reporting slightly lower than forecast Q1 earnings and revenues, and cutting its full-year profit and revenue forecast, citing weaker demand for lithium hydroxide, one-off costs related to the effects of operation "disruptions" in Argentina, and lower prices in China.
  • LTHM says it expects FY 2019 revenue of $435M-$475M, vs. its prior forecast of $495M-$525M and well below $510M analyst consensus estimate, and sees EPS of $0.56-$0.66, also far below $0.95 consensus.
  • The company expects to increase deliveries to customers in China in Q2, but the deliveries will be at lower prices than in 2018, reflecting current market conditions in China.
  • "Despite weaker current market conditions, the outlook for electric vehicles and lithium demand remains positive," the company says.
  • In Q1, LTHM says revenues and adjusted EBITDA were in-line with company guidance; operationally, the third lithium hydroxide line in China was successfully brought into commercial production, and lithium carbonate operations in Argentina resumed normal levels following nearly three weeks of lost production due to heavy rains in January.
  • LTHM says a higher than expected ~1K tons of lithium carbonate production were lost due to the rains.

Recommended For You

About ALTM Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
ALTM--
Arcadium Lithium plc