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Lithium Stocks White Hot: Albemarle Soars After Livent...

  1. soundwave9
    863 Posts.
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    06/05/22
    10:30
    Post #: 61245731

    Lithium Stocks White Hot: Albemarle Soars After Livent Skyrockets On Earnings, Outlook

    Estimates: Livent was expected to post EPS of 13 cents a share vs. 2 cents a year ago, on 53% revenue growth to $140.15 million.

    Results: Livent earnings per share surged 950% to 21 cents. Revenue climbed 56% to $143.5 million, the second straight quarter of accelerating growth.

    Outlook: Livent raised its full-year guidance range for adjusted EBITDA to $290-$350 million, up 78% at the midpoint from the prior $160-$200 million range. Revenue should range from $755-$835 million, up 39% at the midpoint from the range of $540-$600 million offered in mid-February.

    Albemarle Earnings

    Estimates: Analysts expected Albemarle earnings per share to rise 49% to $1.64. Revenue was seen growing 22.5% to $1.02 billion.

    Results: Albemarle earnings leapt 116% to $2.38 a share. Revenue swelled 36% to $1.13 billion. Both were easily the best gains in years.

    Outlook: The lithium stock giant hiked its 2022 outlook "based on expectations of continued demand growth and tightness in the markets it serves." In other words, higher prices for lithium and bromine.

    It hiked its 2022 EPS target to $9.25-$12.25 from $5.65-$6.65 previously, far above consensus. It forecast sales of $5.2 billion to $5.6 billion, far above views for about $4.41 billion.

    LINK:

    https://www.investors.com/news/lithium-stocks-livent-gains-on-earnings-outlook-albemarle-on-deck/
    LKE Price at posting: $1.60 Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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