It has been about a month since the last earnings report for Century Aluminum (CENX Quick QuoteCENX - Free Report) . Shares have added about 6.2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Century due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Century Aluminum’s Q3 Earnings Beat Estimates, Sales Lag

Century Aluminum reported a profit of $44.3 million or 43 cents per share in third-quarter 2022 compared with a loss of $52.4 million or 58 cents per share in the year-ago quarter.

Barring one-time items, adjusted loss was 34 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 63 cents.

Revenues and Shipments

The company generated net sales of $637.2 million in the reported quarter, up around 10% year over year. The figure missed the Zacks Consensus Estimate of $665.5 million.

Shipments of primary aluminum were 173,725 tons, down around 11% year over year. Shipments also declined 19% sequentially due to lower volumes from the Hawesville plant related to the earlier announced curtailment of production at the facility.

Financials

At the end of the quarter, the company had cash and cash equivalents of $64.8 million, up roughly 13% year over year.

Net cash provided by operating activities was $57.2 million in the nine months ended Sep 30, 2022 against net cash used of $12.1 million in the year-ago period.

Outlook

Century Aluminum stated that although the global energy crisis and difficult industry conditions continued to present challenges in the third quarter, it remains well-placed to operate its businesses through this commodity cycle and benefit from the long-term trends towards value-added aluminum products. It has taken several measures to lower cost structure, reduce its exposure to market energy prices and improve liquidity. The company believes that these actions will help it execute on its long-term strategies and create value for shareholders.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates review.

The consensus estimate has shifted -203.53% due to these changes.

VGM Scores

Currently, Century has a strong Growth Score of A, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the second quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Century has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Century is part of the Zacks Metal Products - Procurement and Fabrication industry. Over the past month, TriMas (TRS Quick QuoteTRS - Free Report) , a stock from the same industry, has gained 12.3%. The company reported its results for the quarter ended September 2022 more than a month ago.

TriMas reported revenues of $218.53 million in the last reported quarter, representing a year-over-year change of -1.8%. EPS of $0.40 for the same period compares with $0.57 a year ago.

For the current quarter, TriMas is expected to post earnings of $0.66 per share, indicating a change of +17.9% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for TriMas. Also, the stock has a VGM Score of D.