{"id":1115052,"date":"2019-05-08T19:04:15","date_gmt":"2019-05-08T19:04:15","guid":{"rendered":"http:\/\/www.mining.com\/?p=986424"},"modified":"2019-05-08T19:04:15","modified_gmt":"2019-05-08T19:04:15","slug":"livent-shares-tumble-22-on-sales-miss-guidance-cut","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1115052","title":{"rendered":"Livent shares tumble 22% on sales miss, guidance cut"},"content":{"rendered":"

Lithium chemicals supplier Livent Corp. (NYSE: LTHM) saw its shares tumble by over 22% on Wednesday on the back of a disappointing Q1 earnings release<\/a> along with a substantial cut in full-year guidance. The company’s market capitalization now sits at $1.2 billion.<\/p>\n

Livent, which was spun out of FMC Corp. and went public last year, reported Q1 revenue of $98.3 million, about $5 million lower than analysts’ expectations. Part of the reason was the company lost almost three weeks of production in Q1 at its Argentina facilities due to heavy rain.<\/p>\n

More worrisome for investors is that the company has reduced its revenue guidance for the year from $495-$525 million to $435-$475 million, well below the analyst consensus of $510 million. Second quarter sales is expected to miss expectations as well (forecast to be $105-$115 million vs. consensus estimate of $124 million).<\/p>\n

Regarding its full-year guidance cut, the company warns that a deteriorating demand for lithium hydroxide will impact its sales for the rest of the year. The price of lithium hydroxide has fallen by 5.8% since the start of the year, according to data compiled by\u00a0Benchmark Minerals Intelligence<\/a>. Overall, lithium price is down over 38%<\/a> over the past year.<\/p>\n

Livent, whose lithium products are used in Tesla car batteries, said a number of customers had delayed their 2019 orders, which could lead to lower sales volumes and lower prices.<\/p>\n

“We are seeing weaker near-term demand for our high-performance lithium hydroxide, as several major customers have informed us about recent decisions to delay their own commercial launches of high-nickel cathode chemistries,” CEO Paul Graves said in a statement.<\/p>\n

\u201cThis will result in lower delivered volumes of lithium hydroxide to these customers in 2019 than previously indicated and lower overall sales volumes for the year,\u201d Graves concluded.<\/p>\n

The post Livent shares tumble 22% on sales miss, guidance cut<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lithium chemicals supplier Livent Corp. saw its shares tumble by over 22% on Wednesday on the back of a disappointing Q1 earnings release.<\/p>\n

The post Livent shares tumble 22% on sales miss, guidance cut<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2596,949,404,369,428],"tags":[288],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115052"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1115052"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115052\/revisions"}],"predecessor-version":[{"id":1115080,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1115052\/revisions\/1115080"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1115052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1115052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1115052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}