Overview
Century Aluminum Q2 rev of $628.1 mln beats analyst expectations, per LSEG data
Adjusted EPS of $0.30 missed analyst estimates
Adjusted EBITDA of $74.3 mln missed analyst expectations
Co to restart Mt. Holly smelter, boosting U.S. aluminum production
Outlook
Company expects Q3 Adjusted EBITDA between $115 mln and $125 mln
Result Drivers
SHIPMENTS INCREASE - Aluminum shipments rose 4% sequentially, contributing to volume growth
DERIVATIVE LOSSES - Higher losses on derivative instruments impacted net earnings, as stated by Century
EXCEPTIONAL ITEMS - Results were affected by $35 mln in exceptional items, including Iceland inventory adjustments
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$628.10 mln
$611.60 mln (2 Analysts)
Q2 Adjusted EPS
Miss
$0.3
$0.33 (1 Analyst)
Q2 EPS
-$0.05
Q2 Net Income
-$4.60 mln
Q2 Adjusted EBITDA
Miss
$74.30 mln
$77.80 mln (2 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the aluminum peer group is "buy"
Wall Street's median 12-month price target for Century Aluminum Co is $22.50, about 4.4% above its August 6 closing price of $21.50
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 6 three months ago
Press Release: ID:nGNX8KR6qy
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)