** Shares of Arcadium Lithium ALTM.N down 4% at $4.55 in morning trade
** ALTM Q1 profit falls 86.4% to $15.6 mln from year earlier
** On a combined product ton basis, ALTM sold roughly 9,300 metric tons at an average realized price of $20,500 per metric ton in Q1
** Volume in Q1 down versus the prior quarter, driven primarily by a decline in spodumene sales due to lower production at Mt. Cattlin in Australia - CFO Gilberto Antoniazzi on conference call
** ALTM says prices were slightly higher across most lithium products versus the prior quarter due to an initial improvement in market conditions, although down compared to the beginning of 2023
** Company beats Q1 profit est; posts adj profit of 6 cents/shr vs. est of 4 cents/shr on cost cuts - LSEG data
** Arcadium says laying off about 11% of its global workforce during the quarter
** ALTM misses Q1 revenue expectation
** Arcadium Lithium was formed earlier this year with the merger of U.S. lithium miner Livent and Australia's Allkem
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))