News: AKE Livent quarterly profit up 13%, cuts forecast on flat lithium sales

Oct 31 (Reuters) - Lithium producer Livent Corp LTHM.N posted a 13% increase in quarterly profit on Tuesday but cut its annual revenue and earnings forecast, citing sluggish sales volumes thus far this year.

The company, which supplies lithium for Tesla TSLA.O and BMW BMWG.DE , posted third-quarter net income of $87.4 million, or 42 cents per share, compared to $77.6 million, or 37 cents per share, in the year-ago period.

Livent said its merger with rival Allkem (AKE) is on track to close by the end of the year. The combined company will be called Arcadium Lithium.