(Reuters) – Lithium producer Livent Corp reported a jump in first-quarter profit and raised its annual forecast on Tuesday, citing rising prices and sales of the metal used to make electric vehicle batteries.
The company, which has deals to supply the battery metal to General Motors Co, Tesla Inc and BMW, posted net income of $114.8 million, or 55 cents per share, compared to $53.2 million, or 28 cents per share, in the year-ago period.
(This story has been corrected to change ‘second quarter’ to ‘first quarter’ in paragraph 1)
(Reporting by Ernest Scheyder)
