We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Is Century (CENX) Up 23.5% Since Last Earnings Report?
Read MoreHide Full Article
A month has gone by since the last earnings report for Century Aluminum (CENX - Free Report) . Shares have added about 23.5% 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 Q4 Earnings Beat Estimates, Sales Lag
Century Aluminum recorded fourth-quarter 2023 earnings of 30 cents per share. This is in contrast to the year-ago quarter's loss of $1.24 per share. The figure beat the Zacks Consensus Estimate of a loss of 23 cents per share.
Revenues and Shipments
The company generated net sales of $512.3 million in the reported quarter, down around 3.3% year over year. The figure missed the Zacks Consensus Estimate of $514.4 million. Sales also fell 6% sequentially due to lower realized aluminum prices.
Shipments of primary aluminum were 173,871 tons, up around 2.6% year over year. Shipments also increased 1.1% sequentially.
FY23 Results
Earnings, as adjusted, in full-year 2023 were 33 cents per share compared with 26 cents a year ago. Net sales fell 21.3% year over year to $2,185.4 million.
Financials
Century's liquidity position as of Dec 31, 2023, which included $88.8 million in cash and cash equivalents and $223.7 million in combined borrowing availability, was $312.5 million, up $6.7 million from the third quarter of 2023.
Outlook
The company anticipates first-quarter adjusted EBITDA of $5-$15 million, factoring in decreased raw material prices offset by lower value-added product premiums.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Is Century (CENX) Up 23.5% Since Last Earnings Report?
A month has gone by since the last earnings report for Century Aluminum (CENX - Free Report) . Shares have added about 23.5% 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 Q4 Earnings Beat Estimates, Sales Lag
Century Aluminum recorded fourth-quarter 2023 earnings of 30 cents per share. This is in contrast to the year-ago quarter's loss of $1.24 per share. The figure beat the Zacks Consensus Estimate of a loss of 23 cents per share.
Revenues and Shipments
The company generated net sales of $512.3 million in the reported quarter, down around 3.3% year over year. The figure missed the Zacks Consensus Estimate of $514.4 million. Sales also fell 6% sequentially due to lower realized aluminum prices.
Shipments of primary aluminum were 173,871 tons, up around 2.6% year over year. Shipments also increased 1.1% sequentially.
FY23 Results
Earnings, as adjusted, in full-year 2023 were 33 cents per share compared with 26 cents a year ago. Net sales fell 21.3% year over year to $2,185.4 million.
Financials
Century's liquidity position as of Dec 31, 2023, which included $88.8 million in cash and cash equivalents and $223.7 million in combined borrowing availability, was $312.5 million, up $6.7 million from the third quarter of 2023.
Outlook
The company anticipates first-quarter adjusted EBITDA of $5-$15 million, factoring in decreased raw material prices offset by lower value-added product premiums.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.