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.
Century Aluminum's (CENX) Q1 Earnings & Sales Miss Estimates
Read MoreHide Full Article
Century Aluminum Company (CENX - Free Report) recorded first-quarter 2024 earnings of $2.26 per share. This compares favorably with the year-ago quarter's loss of 42 cents.
Barring one-time items, the loss per share was 39 cents in the reported quarter, wider than the Zacks Consensus Estimate of a loss of 19 cents.
Century Aluminum Company Price, Consensus and EPS Surprise
The company generated net sales of $489.5 million in the reported quarter, down around 11.4% year over year. The figure missed the Zacks Consensus Estimate of $520.3 million.
Primary aluminum shipments were 174,627 tons, down around 3.6% year over year. Shipments rose 0.4% sequentially.
Financials
At the end of the quarter, the company had cash and cash equivalents of $93.5 million, up 207.5% year over year.
Net cash used in operating activities was $14.8 million in the quarter compared with $0.2 million in the year-ago period.
Outlook
Century expects its adjusted EBITDA in the second quarter to be in the range of $25-$35 million, factoring in higher LME prices and regional premiums, partly offset by the timing of partial power curtailments imposed on its Grundartangi facility.
Price Performance
Shares of Century Aluminum have gained 105.3% in the past year compared with a 35.3% rise of the industry.
The Zacks Consensus Estimate for GFI’s first-quarter earnings is pegged at 22 cents per share. The figure has been stable in the past 60 days.
L.B. Foster is slated to report first-quarter results on May 7. The consensus estimate for FSTR’s first-quarter earnings is pegged at a loss of 16 cents per share. The company’s shares have rallied 111.9% in the past year.
American Vanguard is expected to report first-quarter results on May 14. The consensus estimate for AVD’s first-quarter earnings is pegged at 8 cents per share, indicating a year-over-year rise of 14.3%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Century Aluminum's (CENX) Q1 Earnings & Sales Miss Estimates
Century Aluminum Company (CENX - Free Report) recorded first-quarter 2024 earnings of $2.26 per share. This compares favorably with the year-ago quarter's loss of 42 cents.
Barring one-time items, the loss per share was 39 cents in the reported quarter, wider than the Zacks Consensus Estimate of a loss of 19 cents.
Century Aluminum Company Price, Consensus and EPS Surprise
Century Aluminum Company price-consensus-eps-surprise-chart | Century Aluminum Company Quote
Revenues and Shipments
The company generated net sales of $489.5 million in the reported quarter, down around 11.4% year over year. The figure missed the Zacks Consensus Estimate of $520.3 million.
Primary aluminum shipments were 174,627 tons, down around 3.6% year over year. Shipments rose 0.4% sequentially.
Financials
At the end of the quarter, the company had cash and cash equivalents of $93.5 million, up 207.5% year over year.
Net cash used in operating activities was $14.8 million in the quarter compared with $0.2 million in the year-ago period.
Outlook
Century expects its adjusted EBITDA in the second quarter to be in the range of $25-$35 million, factoring in higher LME prices and regional premiums, partly offset by the timing of partial power curtailments imposed on its Grundartangi facility.
Price Performance
Shares of Century Aluminum have gained 105.3% in the past year compared with a 35.3% rise of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
CENX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include Gold Fields Limited (GFI - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and L.B. Foster Company (FSTR - Free Report) and American Vanguard Corporation (AVD - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GFI’s first-quarter earnings is pegged at 22 cents per share. The figure has been stable in the past 60 days.
L.B. Foster is slated to report first-quarter results on May 7. The consensus estimate for FSTR’s first-quarter earnings is pegged at a loss of 16 cents per share. The company’s shares have rallied 111.9% in the past year.
American Vanguard is expected to report first-quarter results on May 14. The consensus estimate for AVD’s first-quarter earnings is pegged at 8 cents per share, indicating a year-over-year rise of 14.3%.