The past month was thrilling for some ASX-listed lithium shares, yet underwhelming for others.
In typical earnings season fashion, some companies received praise from shareholders while others were punished. Meanwhile, prices for the electric-enabling commodity coasted further upwards — strengthening by ~28% during the month.
Let's shine a light on some of the most well-known ASX lithium shares. Where did they go right, and where did they go wrong in February?
ASX lithium shares: fully charged or battery depleted?
Allkem Ltd (ASX: AKE)
The first company on our list, Allkem, performed reasonably well in February — gaining 4.9%. Although, the company's shares had been trading sideways for most of the month. This changed after publishing its half-year results.
Importantly, the result marked the first since Allkem was formed through the merger of Galaxy Resources and Orocobre. The ASX lithium share delivered a US$13 million net profit for the half — climbing out of losses for the first time since 2019.
Pilbara Minerals Ltd (ASX: PLS)
Much like Allkem, Pilbara Minerals produced an inaugural profit for the six months ending 31 December 2021. However, the market did not respond in a positive manner to the announcement. Unfortunately, the profitable result was overshadowed by plans for the CEO, Ken Brinsden, to step down at the end of 2022.
The Pilbara Minerals share price trended downwards throughout February after a disappointing second-quarter update. Due to outages and the labour shortage, the company missed its downgraded guidance and expected to downgrade its FY22 guidance.
Overall, this ASX-listed lithium share fell 14.6% during the last month.
Liontown Resources Limited (ASX: LTR)
Changing it up, Liontown Resources is one lithium company that did not report earnings during February. But, it still made waves on 16 February after announcing a supply agreement with US electric vehicle maker Tesla Inc (NASDAQ: TSLA).
The landmark deal will see Liontown supply 700,000 tonnes of lithium spodumene concentrate to Tesla over a five-year period. Shares in the ASX lithium player surged 16% following the announcement — putting the share price up 2.5% for the month.
Core Lithium Ltd (ASX: CXO)
Finally, we arrive at Core Lithium, the smallest company by market capitalisation in this February roundup. Shareholders of this upcoming lithium explorer were jumping for joy last month.
Drilling results showed further high-grade lithium intersections at its Finniss Lithium Project. The stellar finding helped shares in this ASX lithium company gain 5.3% during the last month.
