Livent Q3 sales top views, company tweaks guidance higher

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Shares of Livent Corp. LTHM, +2.32% fell more than 5% in the extended session Thursday after the lithium producer reported mixed third-quarter results. Livent said it lost $12.6 million, or 8 cents a share, in the quarter, compared with a loss of $10.5 million, or 7 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned 3 cents a share. Revenue rose 43% to $103.6 million, the company said. FactSet consensus called for EPS of 4 cents a share on sales of $96 million. “Continued improvement” in market conditions supported higher pricing and demand, but higher realized prices were offset by higher costs and the impact of global supply-chain disruptions, the company said. Livent tweaked higher its revenue forecast for the full year to between $390 million and $410 million, from a previous guidance between $370 million and $390 million.

This article was originally published by Marketwatch.com. Read the original article here.

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