Yahoo Finance Century Aluminum's (CENX) Q1 Earnings & Sales Miss Estimates
Century Aluminum Company CENX 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.
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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, sporting a Zacks Rank #1 (Strong Buy), and L.B. Foster Company FSTR and American Vanguard Corporation AVD, 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%.
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