LTM Arcadium Lithium Reports Strong Second Quarter 2024 Results
Q2 Earnings Beat Expectations, Revenue Surges
Financial Highlights:
LTM Arcadium Lithium (OTCMKTS: LTMC) today reported strong financial results for the second quarter of 2024. The company exceeded analyst expectations, posting earnings per share (EPS) of $0.25, compared to the consensus estimate of $0.22. Revenue surged by 25% year-over-year to $50 million, driven by increased demand for the company's lithium-ion batteries.
Operational Highlights:
LTM Arcadium Lithium continued to expand its operations during the quarter. The company opened a new production facility in Nevada, increasing its production capacity by 20%. The company also secured several new long-term contracts with major automotive and electronics manufacturers.
Outlook:
The company is optimistic about its prospects for the rest of 2024. LTM Arcadium Lithium expects to continue to benefit from strong demand for its lithium-ion batteries. The company is also planning to launch several new products, including a next-generation battery with improved performance and longer life.
Conference Call:
LTM Arcadium Lithium will host a conference call to discuss the second quarter results on August 15, 2024 at 4:30 PM EST. Investors and analysts can participate in the call by dialing (800) 555-1212 or (602) 236-5976. A webcast of the call will also be available on the company's website.
About LTM Arcadium Lithium:
LTM Arcadium Lithium is a leading global provider of lithium-ion batteries for the automotive, electronics, and energy storage industries. The company is headquartered in Toronto, Canada, with operations in North America, South America, and Asia.
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