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The Zacks Consensus Estimate for PLL’s second-quarter loss is currently pegged at 46 cents per share. Over the past 30 days, the estimate has widened from the earlier expected loss of 31 cents per share .
Q1 Results
In the last reported quarter, Piedmont Lithium reported a loss per share of 47 cents. The Zacks Consensus Estimate was pegged at a loss of 44 cents per share. PLL has delivered a negative average surprise of around 29% in the trailing four quarters.
Piedmont Lithium is a development stage company focused on building a multi-asset, integrated lithium business which will provide lithium hydroxide to the electric vehicle and battery manufacturing supply chains in the United States.
Its projects include the Tennessee Lithium project, a proposed merchant lithium hydroxide manufacturing plant in McMinn County, TN and Carolina Lithium project which is a proposed, fully integrated spodumene concentrate-to-lithium hydroxide project in Gaston County, NC. The balance of its project portfolio includes strategic investments in lithium assets in Quebec, Canada and Ghana, West Africa.
The company had started commercial production of spodumene concentrate in Quebec in March 2023. Revenue generation is anticipated with first shipments to customers targeted for the third quarter of 2023.
Production of spodumene concentrate is expected to begin in Ghana in 2025, subject to permitting and approvals. Lithium resources from Atlantic Lithium Limited’s Ewoyaa project are intended to serve as the primary feedstock for lithium hydroxide conversion at Tennessee Lithium, which is targeted to begin production in 2026. PLL plans to start production of spodumene concentrate and lithium hydroxide at Carolina Lithium in 2027. The company recently announced that the Tennessee Department of Environment and Conservation issued a permit for the proposed $800 million Tennessee Lithium project.
PLL expects an estimated annual lithium hydroxide manufacturing capacity of 60,000 metric tons when fully operational.
The company has not generated revenues yet. Until commercial production is achieved from operations, Piedmont Lithium will continue to incur operating and investing net cash outflows. PLL’s results in the second quarter of 2023 are likely to reflect the exploration and mine development costs it has been incurring. These include costs in resource exploration, evaluation and development during different phases of its development projects.
Also, employee compensation costs are expected to have contributed to a spike in general and administrative expenses due to the hiring of additional management and support staff. All these factors, in the absence of revenues, are likely to have led to a second-quarter loss for PLL.
What Our Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Piedmont Lithium this time around. 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.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for PLL is -36.26%.
Piedmont Lithium’s’ shares have gained 21.9% in the past year compared with the industry’s 8.5% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some companies in the basic materials space, which according to our model, have the right combination of elements to post an earnings beat this quarter:
Livent Corporation , scheduled to release earnings on Aug 3, has an Earnings ESP of +2.43% and sports a Zacks Rank of 1.
The Zacks Consensus Estimate for LTHM’s earnings for the second quarter is currently pegged at 46 cents per share.
Ecolab Inc. (ECL - Free Report) , slated to release earnings on Aug 1, has an Earnings ESP of +0.50% and a Zacks Rank of 2.
The Zacks Consensus Estimate for ECL’s second-quarter earnings is pegged at a profit of $1.21 per share.
Axalta Coating Systems Ltd. (AXTA - Free Report) , which is slated to release earnings on Aug 1, has an Earnings ESP of +6.02% and a Zacks Rank of 2.
The consensus estimate for AXTA’s earnings for the second quarter is currently pegged at 39 cents per share.
Image: Bigstock
Piedmont Lithium (PLL) to Report Q2 Earnings: What's in Store?
Piedmont Lithium (PLL - Free Report) is anticipated to report a loss per share in its second-quarter 2023 results this week.
Q2 Estimates
The Zacks Consensus Estimate for PLL’s second-quarter loss is currently pegged at 46 cents per share. Over the past 30 days, the estimate has widened from the earlier expected loss of 31 cents per share .
Q1 Results
In the last reported quarter, Piedmont Lithium reported a loss per share of 47 cents. The Zacks Consensus Estimate was pegged at a loss of 44 cents per share. PLL has delivered a negative average surprise of around 29% in the trailing four quarters.
Piedmont Lithium Inc. Price and EPS Surprise
Piedmont Lithium Inc. price-eps-surprise | Piedmont Lithium Inc. Quote
Factors to Note
Piedmont Lithium is a development stage company focused on building a multi-asset, integrated lithium business which will provide lithium hydroxide to the electric vehicle and battery manufacturing supply chains in the United States.
Its projects include the Tennessee Lithium project, a proposed merchant lithium hydroxide manufacturing plant in McMinn County, TN and Carolina Lithium project which is a proposed, fully integrated spodumene concentrate-to-lithium hydroxide project in Gaston County, NC. The balance of its project portfolio includes strategic investments in lithium assets in Quebec, Canada and Ghana, West Africa.
The company had started commercial production of spodumene concentrate in Quebec in March 2023. Revenue generation is anticipated with first shipments to customers targeted for the third quarter of 2023.
Production of spodumene concentrate is expected to begin in Ghana in 2025, subject to permitting and approvals. Lithium resources from Atlantic Lithium Limited’s Ewoyaa project are intended to serve as the primary feedstock for lithium hydroxide conversion at Tennessee Lithium, which is targeted to begin production in 2026. PLL plans to start production of spodumene concentrate and lithium hydroxide at Carolina Lithium in 2027. The company recently announced that the Tennessee Department of Environment and Conservation issued a permit for the proposed $800 million Tennessee Lithium project.
PLL expects an estimated annual lithium hydroxide manufacturing capacity of 60,000 metric tons when fully operational.
The company has not generated revenues yet. Until commercial production is achieved from operations, Piedmont Lithium will continue to incur operating and investing net cash outflows. PLL’s results in the second quarter of 2023 are likely to reflect the exploration and mine development costs it has been incurring. These include costs in resource exploration, evaluation and development during different phases of its development projects.
Also, employee compensation costs are expected to have contributed to a spike in general and administrative expenses due to the hiring of additional management and support staff. All these factors, in the absence of revenues, are likely to have led to a second-quarter loss for PLL.
What Our Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Piedmont Lithium this time around. 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.
You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for PLL is -36.26%.
Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today's Zacks #1 Rank stocks here.
Price Performance
Piedmont Lithium’s’ shares have gained 21.9% in the past year compared with the industry’s 8.5% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some companies in the basic materials space, which according to our model, have the right combination of elements to post an earnings beat this quarter:
Livent Corporation , scheduled to release earnings on Aug 3, has an Earnings ESP of +2.43% and sports a Zacks Rank of 1.
The Zacks Consensus Estimate for LTHM’s earnings for the second quarter is currently pegged at 46 cents per share.
Ecolab Inc. (ECL - Free Report) , slated to release earnings on Aug 1, has an Earnings ESP of +0.50% and a Zacks Rank of 2.
The Zacks Consensus Estimate for ECL’s second-quarter earnings is pegged at a profit of $1.21 per share.
Axalta Coating Systems Ltd. (AXTA - Free Report) , which is slated to release earnings on Aug 1, has an Earnings ESP of +6.02% and a Zacks Rank of 2.
The consensus estimate for AXTA’s earnings for the second quarter is currently pegged at 39 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.