- AMG Advanced Metallurgical press release ( OTCPK:AMVMF ): Q4 GAAP EPS of $1.85.
- Revenue of $390M (+18.0% Y/Y) misses by $7.3M .
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Outlook
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AMG reaffirms its guidance for the full year 2023 to exceed $400 million EBITDA.
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AMG anticipates the Company will increase overall staffing from about 3,400 at the end of 2022 by 5% due to the hiring associated with the ramp-up of the vanadium expansion in Ohio and the lithium expansion in Germany.
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Capital expenditures for 2023 are expected to be between $175 million and $200 million, mainly driven by the lithium concentrate expansion in Brazil and expenditures related to the construction of the lithium hydroxide plant in Germany.
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With regard to financing in 2023, AMG refinanced its $350 million term loan and $200 million revolver in November 2021, extending revolver and term loan maturities to 2026 and 2028, respectively. AMG has no significant near-term debt maturities. And although we look to consistently optimize our financial structure, our current liquidity of $532 million can fully fund all of the approved capital expansion projects and all other financial obligations.
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In addition, we reaffirm our two-pronged commitment to reduce our CO2 emissions and increase our enabled CO2 savings through 2030.
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AMG Advanced Metallurgical GAAP EPS of $1.85, revenue of $390M misses by $7.3M