Century Aluminum Co ( (CENX) ) has released its Q4 earnings. Here is a breakdown of the information Century Aluminum Co presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Century Aluminum Company is a leading manufacturer of primary aluminum with operations in the United States and Iceland, positioned within the metals and mining industry.
In its latest financial report, Century Aluminum Company announced its fourth quarter and full year 2024 results, highlighting a significant increase in net sales and net income compared to the previous year, despite a slight decrease in aluminum shipments.
The company reported fourth quarter net sales of $631.0 million and net income attributable to stockholders of $47.7 million, or $0.47 per diluted share. The full year 2024 net sales reached $2.2 billion, with a net income of $339.4 million, marking a substantial turnaround from a loss in 2023. Key drivers included higher metal prices, a successful expansion of the Iceland billet casthouse, and a $92.6 million production tax credit. Additionally, Century was selected for a $500 million grant by the U.S. Department of Energy to construct a new aluminum smelter.
Despite a slight sequential decrease in primary aluminum shipments, the company saw a 17% increase in fourth quarter net sales, driven by higher aluminum prices and regional premiums. Adjusted EBITDA for the year improved significantly to $245.2 million from $120.0 million in 2023, supported by favorable pricing and cost conditions.
Looking forward, Century Aluminum Company anticipates a strong first quarter in 2025, expecting adjusted EBITDA between $75 million and $85 million, driven by improved pricing, although slightly offset by rising energy and raw material costs.
