United States-based lithium producer Livent has increased its revenue forecasts for October-December 2021 despite higher costs for energy and raw materials, it said on Thursday November 4.
The company also noted the tight supply of lithium hydroxide and expected non-Chinese battery production to increase, according to its third-quarter financial results released on Thursday and a conference call on the same day.
Because the lithium producer expected higher lithium prices in the fourth quarter, it increased its revenue forecast and its guidance figure for earnings before interest, taxes, depreciation and amortization (Ebitda) for the whole of 2021.
Livent planned to improve its financials despite supply chain disruptions and the increased raw material and energy costs, it said.
Livent's revenue in July-September was $103.6 million, up by 1% from the preceding quarter and up by 43% year-on-year.
For 2021, Livent expected revenue to reach $390-410 million, up from the previous forecast of $370-390 million. Its improved Ebitda guidance for 2021 was $62-72 million instead of $55-70 million.
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