Livent Corporation (LTHM) Shoots Up 30% on Positive Earnings
Livent Corporation (LTHM) reported earnings, where they posted a net profit of $53.2 million, compared to a loss of $800,000 a year ago. LTHM also beat Wall Street expectations for its first quarter, and raised its guidance for the year.
The Company attributed the success to a rising demand and prices for lithium, which is used in batteries of all sizes and a myriad of other products.
CEO Paul Graves said in a statement, “Published lithium prices in all forms have increased rapidly amid very tight market conditions and Livent continues to achieve higher realized prices across its entire product portfolio.”
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The Company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,100 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States, England, India, China and Argentina. For more information, visit Livent.com.