Sigma Lithium misses earnings but sales surge

Sigma Lithium (TSX-V, NASDAQ: SGML) reported a fourth-quarter 2024 loss of $0.08 per share on Monday, falling short of analysts’ expectations of a $0.03 per share profit. Revenue also missed forecasts by $4.4 million.Despite the results, the lithium producer recorded $47.3 million in revenue for the quarter, a 127% increase from the previous quarter. While most lithium miners have struggled amid a sharp drop in prices, Sigma’s quarterly sales volumes rose 29% to 73,900 tonnes, well above guidance. The company attributed this to an optimized sales strategy that averaged $900 per tonne during the period.Production of what it calls “Quintuple Green Zero Lithium” — concentrate, produced with zero carbon-intensive energy, zero potable water, zero toxic chemicals and zero tailings dams — grew 28% to exceed 77,000 tonnes.  Sigma Lithium reaffirmed its goal of doubling production capacity of carbon-neutral lithium concentrate to approximately 520,000 tonnes, starting in 2026. Shares fell nearly 9% in early trading in New York on Monday, dropping to $10.40 and bringing Sigma’s market capitalization to C$1.72 billion ($1.2 billion). Year to date, the stock is down 6.5%, though it has fared better than competitors such as Albemarle (NYSE: ALB), down 16.4%, and Piedmont Lithium (ASX: PLL), down 28.6%.Sigma is currently building a second Greentech Industrial Plant in Minas Gerais, Brazil. In 2025, the new plant is expected to add about 30,000 tonnes of production, bringing the company’s total annual output to 300,000 tonnes at a cash cost of $500 per tonne.Chief executive Ana Cabral said the company is already planning a third Greentech production line. “This expansion, coupled with our disciplined approach to capital deployment and industry-leading low capex intensity, positions Sigma Lithium for sustainable long-term growth,” Cabral said.Sigma produced 240,000 tonnes of lithium in 2024 after exceeding its fourth-quarter production target.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com