ATI (NYSE:ATI): The Dallas-based company reported first-quarter (Q1) revenue of $1.04 billion in 2024. Net income hovered at around $66 million (or 46 cents per share).
- Aerospace and defense sales rose to $616 million, driving a 7% year-over-year growth.
- Adjusted net income was $68.4 million (48 cents per share), with adjusted EBITDA at $151 million, or 14.5% of sales.
- The company highlighted strong demand for specialty alloys and significant improvements in cash flow in addition to completing $150 million in share repurchases.
Piedmont Lithium (NASDAQ:PLL): The North Carolina-based company announced Q1 2024 shipments of about 15,500 dry metric tons (dmt) of spodumene concentrate. Piedmont also has a record quarterly production of 40,439 dmt at North American Lithium; it set a monthly record of 15,699 dmt in March.
- The company is targeting full-year shipments of approximately 126,000 dmt, predominantly in the second half of 2024 as it ramps up to full production.
- Piedmont is aiming to focus on contract customers to minimize dependence on the fluctuating spot market.
Also Read: First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs
Buenaventura (NYSE:BVN): Peru's largest publicly-traded precious metals mining company reported an EBITDA of $94.4 million. That's up from $51.6 million in Q1 2023.
- Net income of $67.1 million, slightly down from $72.8 million.
- The company's cash position stood at $174 million, with a net debt of $525.3 million, resulting in a leverage ratio of 1.87x.
- Key developments included receiving the final operating permit for the Yumpag mine, anticipated to produce 6.5 to 7.2 million silver ounces in 2024, and $29.4 million in dividends from Cerro Verde.
- Q1 CAPEX for the San Gabriel project was $38.4 million.
American Battery Technology (NASDAQ:ABAT): Scott Smith, a former Tesla executive, is now at American Battery Technology.
- American Battery named Smith vice president of financial planning and analysis to support the company's strategic growth and lead investor relations.
- Smith was the former Tesla (NASDAQ:TSLA) head of financial planning and analysis in Europe and recently moved from Berlin to the Reno headquarters.
- He brings extensive experience in financial operations and market expansions, crucial to the company's expanding recycling and lithium manufacturing operations.
Now Read: Elliott Management's $1 Billion Anglo American Stake Ups Ante As Mining Megamerger Collapses
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get connected with the Benzinga community!