Sigma Lithium Misses Q3 Revenue and EPS Targets Despite Production Gains

Sigma Lithium Corporation SGML reported a third-quarter revenue of $20.9 million, missing the consensus of $72.5 million.

Sales revenue for shipments stood at $44.2 million in the quarter and Concentrate sold came in at 57,483 tonnes vs. 52,572 tonnes in the second quarter of 2024.

Sigma Lithium delivered strong operational results at its Greentech industrial plant in the third quarter, producing 60,237 tonnes of Quintuple Zero Lithium Concentrate, an increase of 22% quarter over quarter and exceeding the 60,000 tonnes guidance.

This performance included multiple daily production records and sustained operations above 860 tonnes per day.

In the third-quarter, Sigma Lithium achieved one of the industry’s lowest cash unit operating costs, with CIF China averaging $513/ tonnes, slightly down from $515/ tonnes in the second quarter of 2024.

At the Grota do Cirilo operations, cash unit operating costs for lithium concentrate averaged $395/t, including a temporary $25/t expense for mobile crushers.

The company reported cash adjusted EBITDA loss of $10.6 million and EBITDA loss of $12.8 million in the quarter. Loss per share of $0.23 missed the EPS consensus of $0.07.

Sigma Lithium ended the third quarter with cash and cash equivalents of $65.6 million, and operating cash flow stood at $34 million in the third quarter.

Outlook: The company anticipates fourth-quarter production to reach at least 60,000 tonnes.

Ana Cabral, Co-Chairperson and CEO said, “This quarter we achieved our production and low industry cost targets, generating robust free cash flow and demonstrating our operational resilience to lithium cycles.”

”We also benefited from our shifted commercial strategy to navigate industry seasonality, enabling us to secure higher average realized prices compared to benchmarks.”

Investors can gain exposure to the stock via Sprott Lithium Miners ETF LITP and VanEck Rare Earth and Strategic Metals ETF REMX.

Price Action: SGML shares are down 2.66% at $12.80 at the last check Friday.

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