January 7, 2020 / 10:08 PM / 15 days ago

Livent cuts fourth quarter and annual earnings outlook

Jan 7 (Reuters) - Lithium producer Livent Corp on Tuesday cuts its fourth quarter and annual earnings outlook due to lower-than-expected prices and volumes of lithium hydroxide, sending shares down nearly 14% in extended trading.

The company now expects full-year 2019 revenue in the range of $385 million to $390 million from $400 million to $410 million earlier and adjusted profit per share in the range of 40 cents to 42 cents from 44 cents to 47 cents.

For the fourth quarter, the company now expects revenue in the range of $75 million to $80 million, compared with prior range of 90 million to $100 million, and adjusted earnings per share in the range of 4 cents to 6 cents from 8 cents to 11 cents earlier.

Reporting by Shanti S Nair in Bengaluru; Editing by Aditya Soni

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