Livent Stock Is Soaring on Earnings Beat and Electrifyingly Large Guidance Raise
Livent (NYSE: LTHM) stock is up a whopping 24.1% in Wednesday's premarket trading session as of 9:17 a.m. ET following the lithium producer's release on Tuesday afternoon of a first-quarter 2022 earnings report that delighted investors.
The Philadelphia-based company beat the Wall Street consensus estimates for revenue and earnings. But the primary reason for the stock's surge is likely management's significant increase of full-year 2022 guidance for revenue and a key profitability metric.
Lithium is a key component in the lithium-ion batteries that power electric vehicles (EVs). Image source: Getty Images.
Source Fool.com
