Welcome to our dedicated page for Arcadium Lithium plc news (Ticker: ALTM), a resource for investors and traders seeking the latest updates and insights on Arcadium Lithium plc stock.
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) is a leading global producer of lithium chemicals, formed through the merger of Allkem and Livent in January 2024. Arcadium Lithium stands to benefit significantly from the growing demand for lithium, driven primarily by the increasing adoption of electric vehicles (EVs). Lithium is a key component in the production of EV batteries, and Arcadium Lithium produces lithium carbonate at low cost from two brine resources in Argentina. The company also produces spodumene, a hard rock lithium concentrate, from a mine in Australia and operates downstream lithium hydroxide conversion plants in the United States and China.
As a combined entity, Arcadium Lithium boasts a robust portfolio of assets, including premier lithium resources and manufacturing sites strategically located across the globe. The company is committed to safe and responsible operations, emphasizing sustainability and a reduced carbon footprint. Arcadium Lithium's vertically integrated business model enhances operational flexibility and predictability while lowering costs.
Recent achievements include the successful completion of the merger between Livent and Allkem, approved by shareholders and completed on January 4, 2024. The new company is well-positioned to meet the growing needs of the lithium market, with a combined revenue of approximately USD 1.9 billion in 2022 and a global team of over 2,600 employees. Arcadium Lithium's shares began trading on the NYSE under the ticker "ALTM" and on the ASX under the ticker "LTM" from January 2024.
The company is progressing with several expansion projects, including new lithium carbonate and hydroxide production capacities. Arcadium Lithium aims to increase its output significantly by 2026, leveraging its extensive pipeline of development projects and technical expertise. Financially, the company is focusing on achieving cost synergies and optimizing capital expenditures, with an expectation of substantial savings in the near term.
Arcadium Lithium's operations span multiple countries, including Argentina, Australia, Canada, China, Japan, the United Kingdom, and the United States. This global footprint allows the company to better serve its diverse customer base and drive innovation in renewable energy and electric transportation. For more information, visit the company's website at www.ArcadiumLithium.com.
Arcadium Lithium (NYSE: ALTM) announced shareholder approval for its proposed acquisition by Rio Tinto, initially revealed on October 9, 2024. The company has secured merger control clearance in Australia, Canada, China, the United Kingdom, and the United States, along with investment screening approval in the UK. CEO Paul Graves emphasized that the merger will strengthen their position as a global lithium chemicals producer and enhance their operational capabilities. The transaction is expected to close in mid-2025, pending remaining regulatory approvals and closing conditions.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) reported its Q3 2024 results. Revenue was $203.1 million, with a GAAP net income of $16.1 million or 1 cent per diluted share. Adjusted EBITDA stood at $42.9 million. A decline in average realized prices and volumes, along with higher costs, impacted earnings. Average pricing for combined lithium hydroxide and carbonate was $16,200 per metric ton, down from $17,200 in Q2. Total volumes were 6% lower due to weaker demand and slow production ramp-up in Argentina.
The company has withdrawn its operating and financial guidance due to its pending acquisition by Rio Tinto, announced on October 9, 2024. The transaction values Arcadium at $6.7 billion, representing a 90% premium to its share price on October 4, 2024. Key conditions include shareholder approval and regulatory consent. The transaction is expected to close in mid-2025.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, after market close. The results will be available through PR Newswire and the company's investor relations website. Due to the pending acquisition by Rio Tinto, the company will not conduct an earnings conference call for this quarter, which is standard practice during such transactions.
Rio Tinto has announced a definitive agreement to acquire Arcadium Lithium in an all-cash transaction for US$5.85 per share, valuing Arcadium's diluted share capital at approximately $6.7 billion. The deal represents a 90% premium to Arcadium's closing price on October 4, 2024. This acquisition will establish Rio Tinto as a global leader in energy transition commodities, combining its existing portfolio with Arcadium's world-class lithium business.
Arcadium Lithium is a vertically integrated lithium chemicals producer with a current annual production capacity of 75,000 tonnes lithium carbonate equivalent, and plans to more than double capacity by the end of 2028. The transaction is expected to close in mid-2025, subject to shareholder and regulatory approvals.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) has confirmed receiving a non-binding approach from Rio Tinto regarding a potential acquisition. The company emphasizes that there is no certainty that any transaction will be agreed upon or proceed. Arcadium Lithium has stated it will not provide further comments until there is news to share.
The company reaffirms its commitment to executing its strategic vision and growth pathway as outlined in its recent Investor Day presentation in September 2024. Arcadium Lithium has provided contact information for investors and media inquiries but has not disclosed any additional details about the potential acquisition or its current operations.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) provided strategic updates at its 2024 Investor Day, highlighting its growth plans and financial outlook. The company aims to more than double its total sales volumes by 2028 across multiple products and regions. Arcadium Lithium outlined a path to Adjusted EBITDA of $1.3 billion by 2028, supported by a strong balance sheet with peak net leverage of 2.1x.
The company is accelerating its plan to deliver $125 million in merger-related cost savings, expecting to achieve this target roughly two years ahead of schedule. Arcadium Lithium also announced a Memorandum of Understanding with Toyota Tsusho, which could lead to further synergies and optimization of its global integrated operating network.
The company expects 25% higher combined lithium carbonate and lithium hydroxide volumes in 2024 and 2025 from completed expansion projects. It also outlined two waves of expansions across its assets in Argentina and Canada, with the potential to increase production capacity beyond 2028 by an additional 125,000 to 295,000 metric tons (LCE).
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) has announced the suspension of Stage 4A waste stripping and expansionary investment beyond Stage 3 at its Mt Cattlin spodumene operation in Western Australia due to declining spodumene prices. The company plans to transition the site to Care & Maintenance by mid-2025 after completing Stage 3 mining and ore processing. This decision is expected to increase net cash flow by USD 75-100 million cumulatively in 2024 and 2025.
Arcadium Lithium does not intend to close Mt Cattlin permanently and will maintain the facility to potentially resume operations when market conditions improve. The company will also explore the viability of underground mining to potentially extend the mine's life. CEO Paul Graves emphasized the company's commitment to developing its global hard rock asset portfolio despite the current price environment not justifying production beyond the current open pit stage.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) has published its 2023 Sustainability Report, covering the sustainability performance of its legacy entities Allkem and Livent. This marks the company's first report following their merger earlier this year. CEO Paul Graves emphasized their commitment to advancing sustainability in alignment with stakeholder priorities and their mission to harness lithium responsibly.
The report was developed with reference to GRI standards, SASB standards, and TCFD recommendations. Key ESG metrics for Allkem and Livent were independently assured by EY Argentina and ERM CVS, respectively. Arcadium Lithium plans to present a new sustainability strategy and integrated ESG metrics for the combined company in future reports.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) has announced an Investor Day scheduled for September 19, 2024, in New York City. The event will run from 2:00 p.m. to 5:00 p.m. ET and will be simultaneously webcast. Key highlights include:
- Presentations on long-term strategic objectives, growth opportunities, and financial outlook
- Q&A sessions with senior leadership, including CEO Paul Graves and CFO Gilberto Antoniazzi
- In-person attendance by invitation only due to space
- Live webcast accessible on Arcadium Lithium's Investor Relations website
- Archived replay available post-event
This event provides an opportunity for investors to gain insights into Arcadium Lithium's future plans and financial prospects directly from the company's top executives.
Arcadium Lithium (NYSE: ALTM) reported second-quarter 2024 results, highlighting $255 million in revenue and a net income of $85.7 million, or 7 cents per diluted share. Adjusted EBITDA was $99.1 million, with adjusted earnings per share of 5 cents. The company achieved an average pricing of $17,200 per metric ton for lithium hydroxide and carbonate.
Arcadium plans to save $60-$80 million in 2024 and reduce capital spending by $500 million over the next 24 months. Projected volume increases of 25% are expected for both 2024 and 2025. The company will defer investments in two expansion projects but continue with other projects.
Second-half 2024 revenue is projected between $1.1 billion to $1.2 billion, with an adjusted EBITDA ranging from $380 million to $470 million.