IGO posts improved earnings on higher lithium price, Nova strength

IGO’s Quarterly Performance Falls Short of Expectations

IGO’s December quarter results have been described as marginally weaker than expected, according to RBC Capital Markets analyst Kaan Peker. While there were operational improvements at the Nova operation, these gains were offset by lower-than-forecast mined and processed volumes across the group. The company also continued to face pressure at the group level. Specifically, Nova showed quarter-on-quarter improvement but still did not meet RBC’s p…

IGO posts improved earnings on higher lithium price, Nova strength

The IGO Ltd (ASX: IGO) share price is in focus after the company posted a solid December quarter, highlighting stronger operational performance at Nova and a 16% lift in the realised spodumene price at Greenbushes. What did IGO report? Group sales revenue of $82.4 million, down 22% on the previous quarter Group underlying EBITDA up 55% to $29.9 million Positive operating cash flow of $12.8 million and underlying free cash flow of $13.4 million …