Livent boosts forecast on bullish outlook for lithium prices, demand
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Livent Corporation (LTHM) jumps after lifting 2023 revenue forecast
May 3, 2023 8:08 AM EDTLivent Corporation (NYSE: LTHM) shares have jumped more than 9% premarket Wednesday after the company smashed Q1 earnings expectations and raised full-year 2023 revenue and adjusted EBITDA guidance.
The Lithium producer reported Q1 EPS of $0.60, $0.21 better than the analyst estimate of $0.39., while revenue for the quarter also came in above expectations at $253.5 million versus the consensus estimate of $230.24 million.
The company's revenue was boosted by higher realized lithium pricing, higher average realized prices across all products and strong demand.
"We continue to expect strong financial performance in 2023 supported by pricing visibility from existing... More
