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(Reuters) - Lithium producer Livent Corp posted a 13% increase in quarterly profit on Tuesday but cut its annual revenue and earnings forecast, citing sluggish sales volumes thus far this year.
The company, which supplies lithium for Tesla and BMW, posted third-quarter net income of $87.4 million, or 42 cents per share, compared to $77.6 million, or 37 cents per share, in the year-ago period.
Livent said its merger with rival Allkem is on track to close by the end of the year. The combined company will be called Arcadium Lithium.
(Reporting by Ernest Scheyder)
