Li-Cycle Misses Sales Estimates In Q2, Stock Falls
Portfolio Pulse from Nabaparna Bhattacharya
Li-Cycle Holdings Corp. (NYSE:LICY) reported Q2 2023 sales of $3.6 million, missing the consensus of $8.03 million. The reduction in market prices of cobalt and nickel impacted revenues. The company's EPS loss of $(0.20) aligned with the consensus estimate. Adjusted EBITDA loss widened from $(30.6) million to $(39.7) million. Q2 operating expenses increased to $46.1 million, primarily due to higher raw material and supply costs. The company held $288.8 million in cash and equivalents at the end of the quarter. LICY shares are trading lower by 10.7% at $4.91.
August 14, 2023 | 3:15 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Li-Cycle's Q2 2023 sales missed estimates, impacted by lower cobalt and nickel prices. The company's shares are trading lower by 10.7%.
Li-Cycle's Q2 2023 sales missed the consensus estimate, which is a negative signal for investors. The reduction in market prices of cobalt and nickel, which are key materials for the company, impacted revenues. This news is highly relevant to LICY as it directly pertains to their financial performance. The importance is high as earnings reports are crucial information for investors. The confidence in this analysis is high as the information is directly stated in the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100