November 5, 2018 / 9:56 PM / 10 days ago

Livent quarterly profit jumps 18 percent on rising lithium demand

Nov 5 (Reuters) - Livent Corp, the lithium producer spun off last month from FMC Corp, said on Monday its quarterly profit rose 18 percent due to rising demand for the white metal, a key component of electric car batteries.

Livent posted third-quarter net income of $30 million, compared to $25.5 million in the year-ago quarter. A comparable per-share figure was not immediately available.

FMC said on Monday it plans to report lithium division results as part of its own results through the fourth quarter, effectively keeping Livent as part of its own reporting structure for the rest of the year.

FMC, which owns about 86 percent of Livent’s shares, said it plans to sell its stake in Livent by next March. (Reporting by Ernest Scheyder Editing by Bill Berkrot)

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