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Livent (LTHM) to Report Q3 Earnings: What's in the Offing?
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Livent Corporation is slated to report third-quarter 2023 results after the closing bell on Oct 31.
Livent beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters while delivered in line result on the other occasion. It has a trailing four-quarter earnings surprise of roughly 19%, on average. The company is expected to have benefited from higher volumes on healthy lithium demand. However, weaker prices and higher costs are likely to have hurt its third-quarter performance.
The stock is down 51.1% in the past year compared with the industry’s 3.6% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do the Estimates Say?
The Zacks Consensus Estimate for third-quarter consolidated revenues for Livent is currently pegged at $274.8 million, which calls for a rise of around 18.7% year over year.
Some Factors to Watch For
The company is expected to have benefited, in the third quarter, from healthy customer demand. Lithium demand is being driven by higher electric vehicle (EV) sales and higher battery installations for EVs. Strong customer demand and expansion actions are likely to have driven its volumes in the quarter to be reported.
However, lower realized pricing for lithium products due to weaker market prices is expected to have impacted the company’s performance in the third quarter. Higher operating costs are also likely to have weighed on its margins.
Our proven model does not conclusively predict an earnings beat for Livent this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Livent is -4.39%. The Zacks Consensus Estimate for the third quarter is currently pegged at 46 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Livent currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
The consensus estimate for AXTA’s earnings for the third quarter is currently pegged at 38 cents.
CF Industries Holdings, Inc. (CF - Free Report) , slated to release earnings on Nov 1, has an Earnings ESP of +4.79% and carries a Zacks Rank #3 at present.
The consensus mark for CF’s third-quarter earnings is currently pegged at 94 cents.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release third-quarter earnings on Nov 8, has an Earnings ESP of +2.96%.
The Zacks Consensus Estimate for Kinross' earnings for the third quarter is currently pegged at 10 cents. KGC currently carries a Zacks Rank #3.
Image: Bigstock
Livent (LTHM) to Report Q3 Earnings: What's in the Offing?
Livent Corporation is slated to report third-quarter 2023 results after the closing bell on Oct 31.
Livent beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters while delivered in line result on the other occasion. It has a trailing four-quarter earnings surprise of roughly 19%, on average. The company is expected to have benefited from higher volumes on healthy lithium demand. However, weaker prices and higher costs are likely to have hurt its third-quarter performance.
The stock is down 51.1% in the past year compared with the industry’s 3.6% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Do the Estimates Say?
The Zacks Consensus Estimate for third-quarter consolidated revenues for Livent is currently pegged at $274.8 million, which calls for a rise of around 18.7% year over year.
Some Factors to Watch For
The company is expected to have benefited, in the third quarter, from healthy customer demand. Lithium demand is being driven by higher electric vehicle (EV) sales and higher battery installations for EVs. Strong customer demand and expansion actions are likely to have driven its volumes in the quarter to be reported.
However, lower realized pricing for lithium products due to weaker market prices is expected to have impacted the company’s performance in the third quarter. Higher operating costs are also likely to have weighed on its margins.
Livent Corporation Price and EPS Surprise
Livent Corporation price-eps-surprise | Livent Corporation Quote
Zacks Model
Our proven model does not conclusively predict an earnings beat for Livent this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here.
Earnings ESP: Earnings ESP for Livent is -4.39%. The Zacks Consensus Estimate for the third quarter is currently pegged at 46 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Livent currently carries a Zacks Rank #3.
Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:
Axalta Coating Systems Ltd. (AXTA - Free Report) , scheduled to release earnings on Nov 1, has an Earnings ESP of +5.39% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for AXTA’s earnings for the third quarter is currently pegged at 38 cents.
CF Industries Holdings, Inc. (CF - Free Report) , slated to release earnings on Nov 1, has an Earnings ESP of +4.79% and carries a Zacks Rank #3 at present.
The consensus mark for CF’s third-quarter earnings is currently pegged at 94 cents.
Kinross Gold Corporation (KGC - Free Report) , scheduled to release third-quarter earnings on Nov 8, has an Earnings ESP of +2.96%.
The Zacks Consensus Estimate for Kinross' earnings for the third quarter is currently pegged at 10 cents. KGC currently carries a Zacks Rank #3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.