Li-Cycle Registers 32% Sales Decline In Q4, Higher Metal Prices Weigh, Losses Aggravate - Li-Cycle Holdings (NYSE:LICY)

Li-Cycle Holdings Corp LICY reported fourth-quarter FY22 sales of $3.0 million, down by 31.8% year-on-year, missing the consensus of $9.30 million.
The decline was due to a pricing adjustment from significant decreases in nickel and cobalt prices.
Revenue from product sales and recycling services was $3.5 million, down from $4.1 million a year ago.
EPS loss of $(0.19) missed the consensus loss of $(0.17).
Operations losses increased to $(36.4) million, compared to $(14.1) million a year ago.
Li-Cycle held $578.3 million in cash on hand.
Adjusted EBITDA loss rose to $(32.6) million, up from $(11.7) million for the prior year, due to the growth and expansion of the Spoke operations and the Rochester Hub.
"We are pleased by our strong fourth quarter operating performance as we brought on our third-generation Arizona and Alabama Spokes, which have a first-of-its-kind full battery pack processing capabilities," said Ajay Kochhar, Li-Cycle President and Chief Executive Officer. "Also significant, at our Rochester Hub, we made meaningful progress on engineering, procurement, and construction, keeping us in-line with our targeted budget and schedule, with commissioning expected to commence in late calendar 2023."
Price Action: LICY shares are trading lower by 3.29% at $5.58 during the premarket session on the last check Monday.