Arcadium Lithium Posts Lower-than-Expected September Quarter Earnings, Mizuho Securities Says

MT Newswires Live11-08

Arcadium Lithium's (ASX:LTM) adjusted earnings before interest, taxes, depreciation, and amortization for the September quarter was $43 million, below Mizuho Securities' $98 million estimate, amid weaker demand and falling prices of lithium products, the investment firm said in a note Thursday.

Lithium hydroxide and carbonate sales fell 24% to $142 million quarter on quarter, while spodumene sales fell 7% to $22 million quarter on quarter.

Commenting on the company's acquisition by Rio Tinto (ASX:RIO), the investment firm said there should be no "significant" antitrust issues as Rio Tinto is still in development mode on its lithium ambitions.

Mizuho Securities kept its neutral rating and $5.85 price target on Arcadium Lithium.

Price (AUD): $8.05, Change: $-0.17, Percent Change: -2.07%

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