Livent quarterly profit up 13%, cuts forecast on flat lithium sales

Allkem

31/10/2023 20:18

Oct 31 (Reuters) - Lithium producer Livent Corp  LTHM.N 
posted a 13% increase in quarterly profit on Tuesday but cut its
annual revenue and earnings forecast, citing sluggish sales
volumes thus far this year.    
    The company, which supplies lithium for Tesla  TSLA.O  and
BMW  BMWG.DE , posted third-quarter net income of $87.4 million,
or 42 cents per share, compared to $77.6 million, or 37 cents
per share, in the year-ago period.
    Livent said its merger with rival Allkem  AKE.AX  is on
track to close by the end of the year. The combined company will
be called Arcadium Lithium.

 (Reporting by Ernest Scheyder)
 ((ernest.scheyder@thomsonreuters.com; Twitter: @ErnestScheyder;
+1-713-210-8512; Reuters Messaging:
ernest.scheyder.thomsonreuters.com@reuters.net))