On Wall Street, the explosive growth of the casting manufacturer Livent Corporation continues

Lithium manufacturer Livent Corp. (LTHM) plans to report the second quarter’s results in a month. Wall Street analysts believe the company will significantly exceed revenue and profit forecasts. The main driver is the rising prices for lithium and the continuing demand for this metal. Wall Street forecasts assume revenue growth in the second quarter of 2022 by more than 100% year-on-year. Against the background of rising lithium prices, Livent’s profit growth may be six times higher than the company’s revenue growth. 

Recall that lithium prices have increased due to a shortage of metal needed for producing lithium-ion batteries for electric vehicles. For comparison, in the first quarter of this year, Livent’s revenue increased by 56% year-on-year, while profits soared by more than 1,000% year-on-year due to increased prices. In addition, investors assume that Livent will present plans to expand production during the report’s publication. Currently, the company is implementing several projects to increase the production of lithium carbonate and hydroxide. 

The project to expand hydroxide manufacturing facilities in North Carolina The company said in the last quarter that it expected the plant to start making money in the second half of this year. You may remember that the management of Livent gave an updated forecast for 2022 a few months ago. In 2022, sales to be between $755 million and $835 million, which is almost 90 percent more than in 2021. Adjusted EBITDA will grow by 360% in 2022, going up to $290–$350 million. At the auction on July 12, LTHM stock was worth $20.79; this was almost 40% less than the 52-week high but nearly 8% more than the beginning of the year.