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Century Aluminum (CENX) Q1 Earnings & Revenues Top Estimates
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Century Aluminum Company (CENX - Free Report) reported a loss of $0.3 million in first-quarter 2018 as compared with a loss of $15.1 million in the year-ago period. On a reported per share basis, the company reported break-even results compared with a loss of 17 cents per share it recorded in the year-ago period.
Results in the reported quarter were favorably impacted by a $3.2-million benefit from lower of cost or net realizable value inventory adjustments.
Barring one-time items, Century Aluminum’s adjusted loss was 4 cents per share in the quarter, which was narrower than the Zacks Consensus Estimate of a loss of 23 cents.
Revenues and Shipments
The company registered revenues of $454.5 million in the reported quarter, up around 5% year over year. It surpassed the Zacks Consensus Estimate of $437 million. Shipments of primary aluminum in the quarter were 187,238 tons, up from 186,395 tons shipped in the year-ago quarter.
Century Aluminum Company Price, Consensus and EPS Surprise
Century Aluminum ended the quarter with cash and cash equivalents of $130.8 million, up 3.8% year over year. Net cash used operating activities for the quarter was $33 million.
Outlook
Century Aluminum is seeing strong industry fundamentals and attractive demand growth in most global regions. It expects significant opportunity in the U.S. market over the coming years along with limited exemptions from tariffs. The company also plans to restart the three potlines at its Hawesville plant and complete several capital projects required to help the plant achieve full-production capacity again. The plant is anticipated to return to full capacity by early 2019.
Price Performance
Century Aluminum’s shares have gained 24.6% over a year, outperforming the 14.1% decline recorded by its industry.
Zacks Rank and Stocks to Consider
Century Aluminum currently carries a Zacks Rank #3 (Hold).
Kronos has an expected long-term earnings growth rate of 5%. Its shares have gained 33.4% over a year.
Westlake Chemical has an expected long-term earnings growth rate of 12.18%. Its shares have rallied 70.15% over a year.
Steel Dynamics has an expected long-term earnings growth rate of 12%. Its shares have moved up 23.65% over a year.
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Century Aluminum (CENX) Q1 Earnings & Revenues Top Estimates
Century Aluminum Company Price, Consensus and EPS Surprise | Century Aluminum Company Quote
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