AMG says its lithium business contributes most to all-time record earnings in third quarter

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The company said that its Q3 2022 EBITDA of $103 million was the highest in AMG's history, and a 210% increase versus Q3 2021, adding that net income attributable to shareholders was $68 million, yielding $2.09 diluted earnings per share, compared to $0.02 diluted loss per share in Q3 2021. AMG noted that given the strong performance to date and the visibility into year end, the company is increasing its EBITDA guidance for the full year 2022 to $320 million or higher, from a previous range of between $280 million and $300 million.

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