Arcadium Lithium plc(ALTM)
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Arcadium Lithium plc(ALTM) - 2024 Q3 - Quarterly Results
2024-11-07 21:35
Exhibit 99.1 News Release – November 7, 2024 Arcadium Lithium Releases Third Quarter 2024 Results PHILADELPHIA and PERTH, Australia, November 7, 2024 /PRNewswire/ -- Arcadium Lithium plc (NYSE: ALTM, ASX: LTM, "Arcadium Lithium" or the "Company") today reported results for the third quarter of 2024. As a result of its pending acquisition by Rio Tinto, announced on October 9, 2024 (the "Transaction"), and as is customary during such transactions, Arcadium Lithium will not hold an earnings conference call in ...
Arcadium (ALTM) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
ZACKS· 2024-10-22 15:06
Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Arcadium despite higher revenues, with the actual results being crucial for stock price movement [1] Earnings Expectations - Arcadium is expected to report quarterly earnings of $0.05 per share, reflecting a significant year-over-year decline of 88.6% [2] - Revenues are projected to be $264.96 million, which is an increase of 25.3% compared to the same quarter last year [2] Estimate Revisions - The consensus EPS estimate for Arcadium has been revised down by 6.19% over the last 30 days, indicating a reassessment by analysts [3] - The Most Accurate Estimate for Arcadium is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +2.78% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [5] - Arcadium currently holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [6] Historical Performance - In the last reported quarter, Arcadium met the expected earnings of $0.05 per share, resulting in no surprise [7] - Over the past four quarters, Arcadium has only beaten consensus EPS estimates once [7] Industry Comparison - Minerals Technologies, another player in the Zacks Chemical - Specialty industry, is expected to post earnings of $1.53 per share, reflecting a year-over-year increase of 2.7% [9] - Revenues for Minerals Technologies are expected to be $541.6 million, down 1.1% from the previous year [9] - The consensus EPS estimate for Minerals Technologies has been revised down by 0.7% over the last 30 days, and it currently has a Zacks Rank of 4, making predictions of an earnings beat uncertain [9]
Rio Tinto's Acquisition of Arcadium Lithium (ALTM) Boosts Lithium Stocks
GuruFocus· 2024-10-09 15:25
Arcadium Lithium (ALTM, Financial) shares soared 30.54% today, reaching a price of $5.54, following Rio Tinto's announcement of its plan to acquire the company for $6.7 billion. This strategic move positions Rio Tinto as a major player in the high-growth lithium market, aligning with their vision to capitalize on a market primed for a rebound. The acquisition will see Rio Tinto paying $5.85 per share, significantly enhancing the value from the pre-rumor levels. This valuation indicates a price-to-earnings ( ...
These 3 Stocks Just Spiked—Buy the Rally or Sell the News?
MarketBeat· 2024-10-09 11:31
Selling the news is a common trading strategy in which traders buy a stock in anticipation of expected news, then sell once the event occurs. It's a short-term strategy based on the psychology that the unknown is frequently better or worse than the known. Once traders have time to interpret the news, they find that it won't mean much for the long-term outlook for the stock. But sometimes news happens unexpectedly. In this case, traders may buy a stock after the news is announced. But in many cases, these st ...
Arcadium Lithium (ALTM) Jumps on Buyout Offer from Rio Tinto
GuruFocus· 2024-10-07 20:26
Arcadium Lithium (ALTM, Financial) witnessed a notable surge in its stock price today, experiencing a 34.25% increase, landing at $4.135. This significant movement follows the news of a potential buyout offer from mining giant Rio Tinto Group, heightening investor interest. The buyout offer from Rio Tinto Group, one of the largest mining companies globally, could potentially position Arcadium as a strategic asset in the booming lithium market, especially with the growing demand for electric vehicles. Howeve ...
Rio Tinto's Interest Boosts Arcadium Lithium (ALTM)
GuruFocus· 2024-10-04 15:50
Arcadium Lithium (ALTM, Financial) shares increased by 13.04% today as rumors circulated about a potential acquisition by Rio Tinto Group, aiming to expand its presence in the lithium industry. This development has spurred investor optimism, leading to a notable rise in the stock price, which is currently valued at $3.165. Arcadium Lithium (ALTM, Financial) presents an intriguing investment opportunity in the current market landscape. The company, having been impacted by low lithium prices, now stands out a ...
Arcadium Lithium plc(ALTM) - 2024 Q2 - Quarterly Report
2024-08-08 20:59
Investment and Expansion - Arcadium Lithium has deferred investment in two of its four expansion projects, including the 40,000 metric ton lithium carbon equivalent spodumene Galaxy project in Canada, to reduce capital spending by approximately $500 million over the next 24 months[155]. - The company has acquired the lithium metal division of Li-Metal Corp for $11 million USD, which includes intellectual property and a pilot production facility in Ontario, Canada[156]. - Arcadium Lithium's operations in Argentina face challenges due to high inflation, currency instability, and restrictions on foreign exchange transactions, impacting imports and expansion projects[160]. - The company is aligning its expansion efforts with market conditions and local labor market capabilities, despite challenges in the supply chain[165]. - The company anticipates challenges related to expansion projects in Argentina and Canada, which may increase costs and extend delivery times[191]. Financial Performance - Revenue for the three months ended June 30, 2024, was $254.5 million, compared to $170.7 million for Livent in the same period, indicating a significant increase[168]. - The gross margin for the three months ended June 30, 2024, was $80.4 million, compared to $71.8 million for Livent, reflecting improved operational efficiency[168]. - The net income attributable to Arcadium Lithium plc for the three months ended June 30, 2024, was $85.7 million, compared to $90.2 million in the previous year[168]. - Revenue for the six months ended June 30, 2024, was $515.7 million, an increase of approximately 5.4% or $26.4 million compared to $489.3 million for the same period in 2023, driven by revenues contributed by Allkem post-merger of $186.3 million[179]. - Net income for the 2024 YTD was $114.4 million, a decrease of $90.6 million or approximately 44% compared to $205.0 million for the 2023 YTD[185]. Market Conditions - Arcadium Lithium's revenue from lithium hydroxide and lithium carbonate is expected to increase over time, driven by demand in the electric vehicle and energy storage battery markets[153]. - The lithium market is currently characterized by overcapacity and declining prices, which have impacted earnings and investment opportunities[162]. - EV sales in the European Union and the United States were below expectations in the first half of 2024, but automakers anticipate launching new models in the second half[165]. - Management is closely watching geopolitical tensions and their potential impact on supply chains and pricing in the lithium market[162]. Merger and Integration - The company completed the Allkem Livent Merger on January 4, 2024, and is now operating as one reportable segment, integrating the operations of the legacy Allkem and Livent businesses[158][159]. - The company is monitoring the integration of Allkem and Livent, focusing on costs and the pace of ongoing expansion projects[162]. Cost Management - The company expects increased costs in 2024 due to ramping up new production units, although this will be offset by synergy and cost-saving initiatives[165]. - Selling, general and administrative expenses for the 2024 Quarter were $15.5 million, a decrease of $2.1 million or approximately 12% compared to $17.6 million for the 2023 Quarter[173]. - Restructuring and other charges for the 2024 Quarter were $21.9 million, a decrease of $2.4 million compared to $24.3 million for the 2023 Quarter, primarily consisting of costs related to the Allkem Livent Merger[174]. Cash Flow and Capital Expenditures - Cash and cash equivalents as of June 30, 2024, were $380.4 million, up from $237.6 million as of December 31, 2023[188]. - Cash used in operating activities was $(119.7) million for the 2024 YTD, compared to $181.6 million provided in the 2023 YTD[189]. - The company expects $450 million to $575 million in growth capital spending in 2024, with an additional $100 million to $125 million for maintenance capital spending[191]. Risk Management - The company has implemented foreign currency hedges for projected exposure in 2024, with primary currencies including Euro, British pound, and Chinese yuan[204]. - The company does not hedge foreign currency risks associated with the Argentine peso due to limited availability and high costs of suitable derivative instruments[204]. - The company’s financial position is exposed to market risks from fluctuations in commodity prices, interest rates, and foreign currency exchange rates[203].
Arcadium Lithium plc(ALTM) - 2024 Q2 - Earnings Call Transcript
2024-08-07 01:02
Arcadium Lithium plc (NYSE:ALTM) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Daniel Rosen - IR & Strategy Paul Graves - President & CEO Gilberto Antoniazzi - CFO Conference Call Participants Stephen Richardson - Evercore David Deckelbaum - TD Cowen Glyn Lawcock - Barrenjoey Aleksey Yefremov - KeyBanc Capital Markets Robert Stein - Macquarie Pavel Molchanov - Raymond James Joel Jackson - BMO Capital Markets Hugo Nicolaci - Goldman Sachs Kevin McCarthy - Vertical Research P ...
Arcadium (ALTM) Meets Q2 Earnings Estimates
ZACKS· 2024-08-06 23:50
Arcadium (ALTM) came out with quarterly earnings of $0.05 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this supplier of performance lithium compounds would post earnings of $0.03 per share when it actually produced earnings of $0.06, delivering a surprise of 100%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Arc ...
Arcadium Lithium plc(ALTM) - 2024 Q2 - Earnings Call Presentation
2024-08-06 20:39
Earnings Presentation Q2 2024 August 6, 2024 arcadium lithium Disclaimer Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this presentation are forward-looking statements. In some cases, we have identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," " ...