Livent Clocks Below Par Q3 Performance, Lowers Annual Outlook
Portfolio Pulse from Ryan Gustafson
Livent Corporation (NYSE:LTHM) reported Q3 earnings below analyst expectations and lowered its 2023 revenue guidance. The company reported earnings of 44 cents per share, below the consensus estimate of 46 cents, and sales of $211.40 million, missing the estimate of $268.29 million. Despite this, the company reported higher EBITDA compared to the prior year. Livent also lowered its 2023 revenue estimates from the $1.025 billion and $1.125 billion range to $890 million and $940 million range. The company's shares were trading lower in the after-hours session.
October 31, 2023 | 9:09 pm
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Livent Corporation reported lower than expected Q3 earnings and reduced its 2023 revenue guidance, leading to a drop in its share price.
Livent Corporation's Q3 earnings were below analyst expectations and the company also lowered its 2023 revenue guidance. This negative financial performance is likely to negatively impact investor sentiment, leading to a decrease in the company's share price in the short term.
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