Better Times Ahead For Livent Corporation (LTHM)?

Livent Corp. (NYSE: LTHM) is a lithium manufacturer. The stock rose 222% over the past year to $22.12 on August 6. Lithium markets have been strong during the past two years, despite the negative effects of the pandemic, and this should continue in 2022 as well.

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As of last week, Livent Corp. (LTHM) reported its second-quarter results and improved its outlook for the year. Revenue grew 11% year-over-year to $102.2 million. A GAAP net income of $6.5 million, or $0.03 per share, was reported.

According to Livent Corp. (LTHM), lithium prices and demand have increased due to an increase in electric vehicle sales. The industry will not be able to create a surplus of supply in the next few years as production capacity is still behind the rapidly growing demand. By the end of the year, LTHM stock expects revenues of $370-$390 million and adjusted EBITDA of $55-$70, which is an improvement from previous estimates.

Livent’s business slowed in 2020 as a result of COVID-19, as supply chains were disrupted and lithium purchases declined amid macroeconomic uncertainty. The situation has now improved and Livent Corp. (LTHM) has signed long-term contracts, enabling it to increase production capacity in the US and Argentina. Large-scale production in the United States will be at full capacity by 2022 (5,000 tonnes of lithium hydroxide).

It is expected that the Argentine mine, with a production of 10,000 tonnes annually, will reach sustainable commercial production in the first quarter of 2023. In June 2021, Livent issued shares for approximately $262 million to raise additional funds.