Arcadium Lithium's Revenue Drops to $203.1 Million in Q3; EPS Down

MT Newswires Live11-08

Arcadium Lithium (ASX:LTM) reported earnings of $0.01 per share for the third quarter ended Sept. 30, down from $0.17 per share in the year-ago period, according to a Friday filing with the Australian bourse.

Analysts polled by Visible Alpha expected EPS of $0.04.

Net income attributable to Arcadium declined to $16.1 million from $87.4 million a year earlier.

Revenue fell to $203.1 million from $211.4 million a year ago. Analysts surveyed by Visible Alpha expected $262 million.

Adjusted earnings before interest, taxes, depreciation, and amortization fell to $42.9 million from $119.7 million due to lower average realized prices and lower volumes, as well as higher costs.

The company withdrew its operating and financial guidance due to its pending acquisition by Rio Tinto (ASX:RIO).

Arcadium Lithium's shares were down nearly 2% in recent Friday trade.

Price (AUD): $8.08, Change: $-0.14, Percent Change: -1.70%

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