Earnings at Livent soar, while Albemarle may cut its outlook as lithium prices fall

SAN FRANCISCO - June 23, 2023 - PRLog -- Still, the news for Albemarle Corporation (ALB), which reports late Wednesday, may not be as encouraging.

Following a 70% drop in spot lithium carbonate prices since mid-November, Mizuho analyst Christopher Parkinson wrote in a Tuesday note that ALB is very likely to reduce its 2023 guidance.

Earnings from Livent

Analysts projected LTHM to announce a first-quarter earnings of $0.39 cents per share, up 86% from the previous year. Revenue increased by 63% to $233.5 million.

LTHM's EPS increased 186% to $0.60 cents. Revenue increased by 77% to $253.5 million.

LTHM increased its revenue outlook for 2023 to a range of $1.025 billion-$1.125 billion, lifting the floor and ceiling by $25 million. Analysts predicted $1.07 billion in full-year revenues ahead of the Q2 results. The company revised its adjusted EBITDA forecast by $20 million to a range of $530 million-$600 million.

Livent Corporation's (LTHM) estimate assumes a 20% rise in sales volumes. Capacity increases are on track, with 4,000 metric tons added in 2023 and 10,000 more in 2024.

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