Published on 10 May 2024 on GuruFocus.com via Yahoo Finance
Piedmont Lithium Inc. (PLL) Q1 2024 Earnings Overview: Misses Revenue Estimates Amidst ...
Revenue: Reported at $13.4 million, falling short of the estimated $15.37 million.Net Loss: Deepened to $23.6 million, significantly above the estimated loss of $9.95 million.Earnings Per Share (EPS): Recorded a loss of $1.22 per share, surpassing the estimated loss per share of $0.54.Cash Position: Ended the quarter with $71.4 million in cash and cash equivalents, demonstrating strong liquidity.Production Milestones: Achieved record quarterly production of 40,439 dmt of spodumene concentrate at North American Lithium.Strategic Developments: Received the mining permit for Carolina Lithium, enhancing the project's development prospects.Cost Management: Initiated a cost-savings plan expected to reduce annual operating expenses by $10 million.
Warning! GuruFocus has detected 3 Warning Signs with EVI.