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) 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.
Arcadium Lithium plc (NYSE: ALTM, ASX: LTM) has acquired Li-Metal Corp.'s (CSE: LIM, OTCQB: LIMFF) lithium metal business for US$11 million in cash. The acquisition includes intellectual property, physical assets, and a pilot production facility in Ontario, Canada. Key personnel, including Li-Metal's co-founder and CTO Maciej Jastrzebski, will join Arcadium Lithium.
This move is expected to enhance Arcadium Lithium's capabilities in producing lithium metal using various grades of lithium carbonate feedstock, complementing its existing processes. The acquisition aims to provide safer, lower cost, and more sustainable pathways for lithium metal production, strengthening Arcadium Lithium's position as a leading global producer.
The company plans to utilize this technology to meet growing demand for next-generation battery materials and enhance the competitiveness of its butyllithium and lithium specialty chemicals business.
Li-Metal Corp. (CSE: LIM) has announced the sale of its lithium metal production business to Arcadium Lithium plc for US$11,000,000 (~C$15,000,000) in cash. The transaction includes:
- All lithium metal production technology, patents, know-how, and physical assets
- A long-term supply agreement for lithium metal to support Li-Metal's anode development
- Arcadium's assumption of operations at Li-Metal's Markham, Ontario pilot facility
This strategic move allows Li-Metal to focus on developing ultra-thin, high energy density anodes for next-generation batteries. As part of the deal, Li-Metal's CTO and co-founder, Maciej Jastrzebski, has stepped down but will continue in a consulting role for anode business development.
ILiAD Technologies, a subsidiary of EnergySource Minerals (ESM), has successfully closed a funding round with a significant investment from SLB (NYSE: SLB). This investment follows Arcadium Lithium's (NYSE: ALTM) earlier acquisition of a minority stake in ILiAD's parent company. The funding will enhance ILiAD's direct lithium extraction (DLE) technology and expand its global deployment.
SLB plans to integrate ILiAD's technology into its sustainable lithium production solution, currently undergoing technical trials. The investment solidifies ILiAD's position as a leading DLE technology platform for sustainable lithium production, important for the electric vehicle (EV) industry. ILiAD's technology offers cost, efficiency, and environmental advantages over traditional lithium extraction methods.
This investment concludes ILiAD Technologies' establishment capital raise process, which raised $50 million since the second half of 2023.
Arcadium Lithium (NYSE: ALTM, ASX: LTM) has announced the release date for its second quarter 2024 earnings results. The results will be published on August 6, 2024, after the market closes, via PR Newswire and the company's investor relations website. Following the release, the company will host a webcast conference call at 5:00 p.m. ET the same day (7:00 a.m. AEST on August 7, 2024). The webcast will be accessible to the public online, and a replay will be available on the company's investor relations website.
On May 16, 2024, Arcadium Lithium announced that CEO Paul Graves will speak at two significant upcoming conferences: TD Cowen's Annual Sustainability Week and the Evercore ISI Global Clean Energy & Transition Technologies Summit. The first event will take place virtually on May 23 at 1:45 p.m. ET, while the second one will be on June 12 at 1:00 p.m. ET in New York City, with both sessions available for live streaming and replay on the company's website. These appearances highlight Arcadium Lithium's focus on sustainability and clean energy technologies.
Arcadium Lithium reported solid first-quarter results driven by strong average realized pricing for lithium hydroxide and carbonate, aiming to achieve significant cost savings in 2024. The company's revenue was $261 million with a GAAP net income of $15.6 million. Despite a decline in volumes, the company remains on track for capacity expansions to reach 170,000 LCEs by 2026. Arcadium Lithium is investing in further expansions and expects a 40% increase in sales volumes for the full year.
FAQ
What is the current stock price of Arcadium Lithium plc (ALTM)?
What is the market cap of Arcadium Lithium plc (ALTM)?
What does Arcadium Lithium plc do?
How was Arcadium Lithium formed?
What are Arcadium Lithium's key products?
Where does Arcadium Lithium operate?
What recent achievements has Arcadium Lithium reported?
What are the future plans of Arcadium Lithium?
How does Arcadium Lithium contribute to sustainability?
What is Arcadium Lithium's current financial condition?
How can I invest in Arcadium Lithium?
Where can I find more information about Arcadium Lithium?
