Livent Corp. (NYSE:LTHM) Q3 2018 Earnings Conference Call Transcript

Nov 06, 2018 • 08:00 am ET

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Livent Corp. (NYSE:LTHM) Q3 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning, and welcome to the Third Quarter 2018 Earnings Release Conference Call for the Livent Corporation. Phone lines will be placed on a listen-only mode throughout the conference. After the speakers' presentation, there will be a question-and-answer period. I will now turn the conference over to Mr. Rasmus Gerdeman, Chief Strategy and IR Officer for the Livent Corporation. Mr. Gerdeman, you may begin.

Executive
Rasmus Gerdeman

Thank you, Greg. Good morning, everyone, and welcome to Livent Corporation's third quarter earnings call. Joining me today are Paul Graves, President and CEO; Gilberto Antoniazzi, CFO. Paul will review our third quarter performance and provide the outlook for 2018 and the fourth quarter. Gilberto will then provide an overview of select financial results.

The slide presentation that accompanies our results, along with our earnings release, which includes our 2018 outlook are available on our website, and the prepared remarks from today's discussion will be made available after the call. Tom Schneberger, COO, will then join Paul and Gilberto to address your questions.

Please note that we intend to complete today's call in about 45 minutes, to allow FMC's third quarter earnings call to begin promptly at 9:00 am.

(Forward-Looking Cautionary Statements)

Today's discussion will focus on adjusted earnings for all income statement and EPS references and a reconciliation and definition of these terms as well as other non-GAAP financial terms to which we may refer to during today's conference call are provided on our website.

With that, I will now turn it over to Paul.

Executive
Paul Graves

Thank you, Rasmus, and good morning, everyone. I'm pleased to welcome you to Livent's first earnings call as a standalone public company. FMC completed the IPO of Livent, which began trading under the ticker LTHM on October 11. We've recognized that overall market conditions have been volatile since that day, and we appreciate the show of support for our business from those of you who are now owners of Livent.

Before I discuss Livent's business performance during the third quarter, I would like to revisit the fact that we believe make Livent so compelling as an investment. Livent is one of the world's leading producers of high-performance lithium-based products, and has significant know-how and experience obtained by developing and producing lithium products over six decades. We are one of only a few fully integrated performance lithium compound manufacturers.

We operate a global manufacturing network, and we have a complete offering of lithium hydroxide, butyllithium, and high purity lithium metal products, which we sell in all regions of the world. We are well positioned to grow with our customers who rely on our lithium expertise as much as our global network of installed assets. We are one of the lowest-cost producers of lithium carbonate and lithium chloride in the world due to our world-class brine resource in Argentina. We have operated this asset for over 20 years, and we've started the process of tripling our lithium carbonate production capacity in multiple phases by the end of 2025, with the first major volume