Arcadium Lithium (ALTM) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue was $289.0 million, with a GAAP net loss of $14.2 million and adjusted EBITDA of $73.7 million; adjusted EPS was $0.01.

• Full-year 2024 revenue reached $1,007.8 million, GAAP net income was $103.2 million, adjusted EBITDA was $324.5 million, and adjusted EPS was $0.14.

• Pending acquisition by Rio Tinto for $5.85 per share in cash, expected to close March 6, 2025, with all approvals obtained.

Financial highlights

• Lithium Hydroxide and Carbonate generated $211.1 million in Q4 revenue and $728.9 million for the year.

• Butyllithium & Other Lithium Specialties contributed $38.9 million in Q4 and $169.2 million for the year.

• Spodumene Concentrate revenue was $39.0 million in Q4 and $109.7 million for the year.

• Q4 revenue increased from $203 million in Q3 to $289 million, driven by volume and price/mix improvements.

• Q4 total volumes sold were 56% higher sequentially from Q3, but flat year-over-year; average realized pricing for lithium hydroxide and carbonate was $15,700/MT, down from $16,200/MT in Q3.

Segment performance

• Q4 volumes: 13,450 product metric tons for Lithium Hydroxide/Carbonate, 470 LCE for Butyllithium & Other Specialties, 54,100 dry metric tons for Spodumene.

• FY 2024 volumes: 42,300 product metric tons for Lithium Hydroxide/Carbonate, 1,860 LCE for Butyllithium & Other Specialties, 140,000 dry metric tons for Spodumene.

• Higher combined lithium carbonate and hydroxide sales offset by lower spodumene sales for the full year, mainly due to reduced production at Mt Cattlin.

• Average Q4 prices: $15,700/product MT for Lithium Hydroxide/Carbonate, $82,800/LCE for Butyllithium & Other Specialties, $721/dmt for Spodumene.

• Full year average realized pricing for lithium hydroxide and carbonate was $17,200/MT, reflecting a decline due to weaker market conditions compared to 2023.