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Lithium Producer Piedmont's Q2 Results Miss Expectations: Focus Shifts to Carolina Lithium

Piedmont Lithium Inc. (NASDAQ:PLL) shares are trading lower after the company reported a second-quarter FY24 revenue of $13.23 million, which missed the consensus of $18.15 million.  In the quarter, Piedmont shipped about 14,000 dry metric tons (DMT) of spodumene concentrate under long-term contracts, and the realized price per ton was $945, up from $865 the previous quarter. North American Lithium (NAL) produced around 49,700 DMT of spodumene concentrate, up 23% Q/Q. Lithium recovery and mill utilization reached new highs at 68% and 83%, respectively. Piedmont stated that the crushed ore dome was commissioned in the quarter, and steady production is anticipated in the second-half od the year. The company reported an adjusted EPS loss of $0.65, missing the consensus loss of $0.26. Outlook: Piedmont expects shipments of 126 thousand DMT of spodumene concentrate in ...