Li-Cycle Holdings Stock Slides Following Q3 Earnings: Details
Portfolio Pulse from Ryan Gustafson
Li-Cycle Holdings Corp. (NYSE:LICY) reported Q3 earnings with an adjusted loss of 19 cents per share, better than the expected 24 cents loss. Revenue was $4.70 million, surpassing estimates of $2.99 million. The company has $137.4 million in cash and equivalents but reported an Adjusted EBITDA loss of $38.9 million. Li-Cycle is working with Moelis & Company LLC to explore financing and strategic alternatives and is reviewing its Rochester Hub project strategy. Shares fell 2.05% in after-hours trading.
November 13, 2023 | 10:32 pm
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Li-Cycle Holdings surpassed Q3 earnings and revenue estimates but reported an increased Adjusted EBITDA loss. The company is seeking strategic alternatives and reviewing its Rochester Hub project.
Despite beating earnings and revenue estimates, the increased Adjusted EBITDA loss and the announcement of a strategic review suggest uncertainty about the company's future, which typically leads to negative investor sentiment in the short term.
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