Lithium producer Livent boasts record financial performance in Q1, raises 2023 revenue and adjusted EBITDA guidance lithium Livent
- On Tuesday, lithium producer Livent announced that its Q1 2023 revenue was $253.5 million, up 16% and up 77% from the fourth quarter of 2022 and the prior year's quarter, respectively.
Adjusted EBITDA was $157.4 million in Q1 2023, 46% above the previous quarter and roughly three times the prior year's quarter, and adjusted earnings per diluted share were 60 cents. "Livent achieved record revenue and profitability in the first quarter driven by higher realized lithium pricing and strong demand from our customers," stated Paul Graves, president and chief executive officer of Livent."We continue to expect strong financial performance in 2023 supported by pricing visibility from existing customer contracts.”
For the full year, Livent now projects revenue to be in the range of $1,025 million to $1,125 million and Adjusted EBITDA to be in the range of $530 million to $600 million. This represents growth of 32% and 54%, respectively, at the midpoints versus the prior year.
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