Financial Performance - Livent reported Q3 2022 revenue of $232 million, with adjusted EBITDA of $111 million, a significant increase from $15 million a year ago and $95 million in the previous quarter [7][13]. - Adjusted EBITDA was 70% higher than the prior quarter and over seven times higher than the prior year, driven by strong pricing and favorable market conditions [14][15]. - The company ended the quarter with $212 million in cash, including $198 million in prepayments from General Motors related to a lithium hydroxide supply agreement starting in 2025 [16]. Business Line Performance - Livent's lithium hydroxide expansion in Bessemer City was completed in Q3, with production ramp-up expected to align with the completion of carbonate expansion in Argentina [10][44]. - The company anticipates producing approximately 6,000 metric tons of incremental lithium carbonate equivalent (LCE) volume in 2023, representing a 25% annual increase starting in Q2 [11][39]. Market Dynamics - Lithium demand remains strong, with China EV sales reaching 4.5 million units in the first nine months of 2022, more than double the previous year [28]. - The lithium market is tight, with limited inventory and high bid prices for uncommitted feedstock, indicating ongoing supply constraints [29][30]. - Despite potential economic slowdowns, lithium demand growth has exceeded forecasts, supported by government policies promoting electrification [34][37]. Company Strategy and Industry Position - Livent is focused on expanding its production capacity, with significant investments planned through 2024, including a $1 billion investment plan [42][25]. - The company is well-positioned to benefit from regionalization efforts in North America, particularly with the Nemaska project, which aims to establish a localized supply chain [54][46]. - Livent's commitment to sustainability and responsible mining practices is recognized, enhancing its reputation in the industry [59][57]. Management Commentary - Management expressed confidence in the continued strong pricing environment for lithium, despite potential fluctuations in demand due to economic conditions [20][36]. - The company is adapting its commercial strategy to engage more closely with customers, recognizing the importance of securing lithium supply amid rising demand [65][71]. Other Important Information - Livent's capital spending for 2022 is projected to be between $300 million and $340 million, with an increase expected in 2023 as expansion projects progress [25][42]. - The company is evaluating financing options for the Nemaska project, which is expected to have a total capital expenditure of around $1 billion [48][50]. Q&A Session Summary Question: How is the demand-supply dynamic influencing procurement strategies of major OEMs? - Management noted that OEMs are increasingly aware of their reliance on lithium supply and are adjusting their strategies accordingly, seeking more flexible sourcing options [65][71]. Question: Can you elaborate on the new Chief Strategy Officer's role? - The new hire will lead Livent's efforts in Canada and contribute to various strategic areas, including recycling and product mix decisions [72][75]. Question: What is the current status of the Nemaska project and its capital expenditure? - The capital expenditure estimate remains at $1 billion, with construction expected to begin in early 2023 [78][80]. Question: How will the pricing structure evolve with new contracts? - Management anticipates a shift away from fixed-price contracts towards market-based pricing as contracts roll over [86][88]. Question: What is the outlook for lithium prices and average selling prices in 2023? - Management expects average realized prices to increase in 2023, driven by higher volumes and market conditions, but refrained from providing specific figures [118][122].

Q3 2022 Earnings Presentation 11.1.22 Safe HarborStatement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this earnings 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," "estimates," "projects," "po ...

Financial Data and Key Metrics Changes - Livent reported record financial results for Q1 2023, with adjusted EBITDA of $157 million, nearly 50% higher than Q4 2022, driven by higher average realized prices across all lithium products [8][12] - Revenue for Q1 2023 was $254 million, with adjusted earnings of $0.60 per diluted share, showing significant increases compared to both Q4 2022 and Q1 2022 [12][14] - The company raised its full-year financial guidance for 2023, projecting adjusted EBITDA of $530 million to $600 million, a 54% year-over-year increase [10][20] Business Line Data and Key Metrics Changes - Livent experienced a 46% increase in average realized prices for lithium hydroxide compared to Q4 2022, contributing to the overall revenue growth [15][14] - Total volumes sold remained flat year-over-year but decreased slightly from the previous quarter due to higher committed volumes delivered in Q4 2022 [13][14] - The company anticipates a 20% increase in sales volumes for the full year, driven by expansions in lithium carbonate and hydroxide production [21][45] Market Data and Key Metrics Changes - The lithium market saw a seasonal demand slowdown in Q1 2023, particularly in China, where LFP cathode production decreased by about 40% [27][30] - Despite challenges in the Chinese market, demand for energy storage applications remained strong, with significant year-over-year growth in battery installations [29][36] - Global lithium demand expectations for 2023 remain unchanged, with a notable increase in demand from EV applications outside of China [35][36] Company Strategy and Development Direction - Livent is focused on expanding its production capacity, with plans to complete a second 10,000 metric ton lithium carbonate expansion in Argentina by the end of 2023 [44][45] - The company is also advancing the Nemaska Lithium project, which includes a 34,000 metric ton lithium hydroxide facility, expected to begin production in 2026 [48][49] - Livent amended and extended its supply agreement with BMW, committing to greater volumes and longer contract durations, enhancing operational visibility [10][52] Management's Comments on Operating Environment and Future Outlook - Management noted that while lithium prices are challenging to predict in the near term, they do not expect a return to historical price levels due to ongoing supply constraints and production challenges [33][38] - The company remains confident in its ability to meet demand growth, citing that it is supply constrained rather than demand constrained [79] - Management emphasized the importance of maintaining strong relationships with customers and adapting to evolving market conditions [88][89] Other Important Information - Livent's capital expenditures for 2023 are projected to be between $325 million and $375 million, slightly higher than in 2022, to support ongoing expansions [18][25] - The company ended Q1 2023 with $194 million in cash and no withdrawals from its $500 million revolving credit facility, indicating strong liquidity [19] Q&A Session Summary Question: Why were there no sales of carbonate in Q1? - Management indicated that there were no carbonate sales in Q1 because they did not have any to sell, focusing instead on hydroxide sales [56] Question: What is the outlook for fixed price contracts? - Management stated that they expect to continue moving towards market referencing contracts rather than multi-year fixed price contracts, allowing for flexibility in pricing [62] Question: What are the implications of geopolitical considerations on Livent's operations? - Management expressed confidence in their operations in Argentina and the Americas, noting that they do not foresee nationalization threats in Quebec [65] Question: What is the expected impact of startup costs on margins? - Management acknowledged that startup costs would begin impacting margins in Q2 and increase in Q3 and Q4 as production ramps up [68][69] Question: What is the status of government funding for Nemaska Lithium? - Management indicated that updates on funding commitments from the government of Quebec are expected in Q2 or Q3, contingent on the completion of engineering reports [70][71]

Allkem Limited (OROCF) Q4 2022 Earnings Conference Call August 24, 2022 7:00 PM ET Company Participants Martin Perez de Solay - Chief Executive Officer and Managing Director Christian Cortes - Chief, Staff Christian Barbier - Chief Sales and Marketing Officer Keith Muller – Head, Asia-Pacific Operations Conference Call Participants Reg Spencer - Canaccord Al Harvey - JP Morgan Hayden Bairstow - Macquarie Kate McCutcheon - Citi Mitch Ryan - Jefferies Max Vickerson - Morgans Lachlan Shaw - UBS Matthew Frydman ...

↔ Livent Q4 2022 Earnings Presentation 2.14.23 Safe HarborStatement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this earnings 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," "estimates," "proje ...

Livent Corporation (LTHM) Q2 2022 Earnings Conference Call August 2, 2022 4:30 PM ET Company Participants Daniel Rosen - Investor Relations Paul Graves - President & Chief Executive Officer Gilberto Antoniazzi - Chief Financial Officer Conference Call Participants Christopher Parkinson - Mizuho Chris Kapsch - Loop Capital Markets Steve Richardson - Evercore ISI Kevin McCarthy - Vertical Research Partners Pavel Molchanov - Raymond James Joel Jackson - BMO Capital Markets Aleksey Yefremov - KeyBanc Capital Ma ...