Livent Corporation (NYSE:LTHM) Q2 2022 Earnings Conference Call August 2, 2022 4:30 PM ET

Company Participants

Daniel Rosen - Investor Relations

Paul Graves - President & Chief Executive Officer

Gilberto Antoniazzi - Chief Financial Officer

Conference Call Participants

Christopher Parkinson - Mizuho

Chris Kapsch - Loop Capital Markets

Steve Richardson - Evercore ISI

Kevin McCarthy - Vertical Research Partners

Pavel Molchanov - Raymond James

Joel Jackson - BMO Capital Markets

Aleksey Yefremov - KeyBanc Capital Markets

P.J. Juvekar - Citigroup

Matthew DeYoe - Bank of America

Corinne Blanchard - Deutsche Bank

Operator

Good afternoon and welcome to the Second Quarter 2022 Earnings Release Conference Call for Livent Corporation. [Operator Instructions] I will now turn the conference over to Mr. Daniel Rosen, Investor Relations and Strategy for Livent Corporation.

Daniel Rosen

Thank you, Dennis. Good evening, everyone and welcome to Livent’s second quarter 2022 earnings call. Joining me today are Paul Graves, President and Chief Executive Officer; and Gilberto Antoniazzi, Chief Financial Officer.

The slide presentation that accompanies our results, along with our earnings release, can be found in the Investor Relations section of our website. Prepared remarks from today’s discussion will be made available after the call. Following our prepared remarks, Paul and Gilberto will be available to address your questions. Given the number of participants on the call today, we would request a limit of one question and one follow-up per caller. We would be happy to address any additional questions after the call.

Before we begin, let me remind you that today’s discussion will include forward-looking statements that are subject to various risks and uncertainties concerning specific factors, including but not limited to those factors identified in our release and in our filings with the Securities and Exchange Commission. Information presented represents our best judgment based on today’s information. Actual results may vary based upon these risks and uncertainties. Today’s discussion will include references to various non-GAAP financial metrics. Definitions of these terms as well as a reconciliation to the most directly comparable financial measure, calculated and presented in accordance with GAAP, are provided on our investor relations website.

And with that, I’ll turn the call over to Paul.

Paul Graves

Thank you, Dan. Good evening, everyone. Livent had a very strong second quarter performance with the business achieving record levels of profitability. To provide some perspective, Livent's Q2 adjusted EBITDA of $95 million compared to $16 million one year ago or nearly six-fold increase and $53 million last quarter. In the exceptionally strong lithium market we're seeing this year, Livent has continued to achieve higher realized prices across its entire product portfolio.