Century Aluminum Company (NASDAQ: CENX) today announced its second
quarter 2023 results.
Business Highlights
- Net sales $575.5 million
- Realized LME aluminum price of $2,371/T in second quarter is up
$21/T from prior quarter
- Decreased input costs mainly from reduced pricing across key
energy markets
- Strong total liquidity of $231.1 million as of June 30,
2023
- All operating smelters producing at targeted utilization
levels
- Jamalco refinery exited Q2 at targeted production levels
Second Quarter 2023 Financial
Results
$MM (except shipments and per share data) |
|
Q1
2023 |
|
Q2 2023 |
Aluminum shipments (tonnes) |
|
181,165 |
|
|
|
173,649 |
Net sales |
$ |
552.4 |
|
|
$ |
575.5 |
Net (loss) income attributable to Century stockholders |
$ |
(38.6 |
) |
|
$ |
7.5 |
Diluted (loss) income per share attributable to Century
stockholders |
$ |
(0.42 |
) |
|
$ |
0.07 |
Adjusted net (loss) income attributable to Century
stockholders(1) |
$ |
(11.3 |
) |
|
$ |
15.5 |
Adjusted (loss) income per share attributable to Century
stockholders(1) |
$ |
(0.11 |
) |
|
$ |
0.16 |
Adjusted EBITDA attributable to Century stockholders(1) |
$ |
24.1 |
|
|
$ |
29.5 |
|
|
|
|
Notes: |
|
|
|
(1) Non-GAAP measure; see reconciliation of GAAP to non-GAAP
financial measures. |
|
Net sales for the second quarter ended
June 30, 2023 increased by 4 percent sequentially primarily
due to higher realized aluminum prices.
Century reported net income attributable to
Century stockholders of $7.5 million for the second quarter of
2023, a $46.1 million improvement sequentially. Second quarter
results were impacted by $8.2 million of net exceptional items, in
particular $6.6 million lower of cost or net realizable value
adjustment, net of tax, $3.6 million in curtailment costs related
to the Hawesville plant, $1.6 million in share-based compensation
costs and $0.7 million related to one-time transaction costs
associated with the Jamalco acquisition, partially offset by $(4.3)
million of unrealized gains on derivative instruments. Thus,
Century reported an adjusted net income of $15.5 million for the
second quarter of 2023, a $26.8 million improvement
sequentially.
Adjusted EBITDA attributable to Century
stockholders for the second quarter of 2023 was $29.5 million. This
was an improvement of $5.4 million from the prior quarter,
primarily driven by lower energy costs, partially offset by
unfavorable sales mix and planned for operational spend to maintain
stability.
Century's liquidity position at quarter end was
$231.1 million, a decrease of $10.9 million from the prior
quarter.
“Global conditions remain complex, with rising
interest rates slowing Western economies over the first half and
impacting our markets,” commented President and Chief Executive
Officer Jesse Gary. “Despite these macro challenges, Century’s
continued focus on cost discipline and operational performance puts
us in a strong position to continue to deliver robust results
despite a declining aluminum price.”
“We made good progress over the second quarter
towards integrating our new Jamalco operations into the broader
Century team,” continued Mr. Gary. “In Iceland, our billet
casthouse project remains on schedule to deliver Natur-AlTM green
billet products in the first quarter of 2024. Overall, operational
performance across Century’s smelters was excellent in the quarter;
we will remain focused over the back half of the year on consistent
and safe operational execution.”
Third Quarter 2023 Outlook The
company expects third quarter Adjusted EBITDA to range between $10
to $20 million based on decreased LME prices and VAP sales,
partially offset by improved volume and lower raw material prices
and operating costs.
About Century Aluminum
Company
Century Aluminum Company owns primary aluminum
capacity in the United States and Iceland. Century's corporate
offices are located in Chicago, IL. Visit www.centuryaluminum.com
for more information.
Non-GAAP Financial Measures
Adjusted net income (loss), adjusted earnings
(loss) per share and adjusted EBITDA are non-GAAP financial
measures that management uses to evaluate Century's financial
performance. These non-GAAP financial measures facilitate
comparisons of this period’s results with prior periods on a
consistent basis by excluding items that management does not
believe are indicative of Century’s ongoing operating performance
and ability to generate cash. Management believes these
non-GAAP financial measures enhance an overall understanding of
Century’s performance and our investors’ ability to review
Century’s business from the same perspective as
management. The tables below, under the heading
"Reconciliation of Non-GAAP Financial Measures," provide a
reconciliation of each non-GAAP financial measure to the most
directly comparable GAAP financial measure. Non-GAAP financial
measures should be viewed in addition to, and not as an alternative
for, Century's reported results prepared in accordance with
GAAP. In addition, because not all companies use identical
calculations, adjusted net income (loss), adjusted earnings (loss)
per share and adjusted EBITDA included in this press release may
not be comparable to similarly titled measures of other
companies. Investors are encouraged to review the
reconciliations in conjunction with the presentation of these
non-GAAP financial measures.
Cautionary Statement
This press release and statements made
by Century Aluminum Company management on the quarterly
conference call contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
which are subject to the "safe harbor" created by Section 27A of
the Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"). Forward-looking statements are statements
about future events and are based on our current expectations.
These forward-looking statements may be identified by the words
"believe," "expect," "hope," "target," "anticipate," "intend,"
"plan," "seek," "estimate," "potential," "project," "scheduled,"
"forecast" or words of similar meaning, or future or conditional
verbs such as "will," "would," "should," "could," "might," or
"may." Our forward-looking statements include, without
limitation, statements with respect to: Our assessment of global
and local financial and economic conditions; our assessment of the
aluminum market and aluminum prices (including premiums); Our
assessment of alumina pricing, the outlook on when energy prices,
both in the United States and Europe, may return to more normalized
levels, costs associated with our other key raw materials, and
supply and availability of those key raw materials, including power
(and related natural gas and coal), the likelihood and extent of
any power curtailments; Our assessment of power price and
availability for our U.S. and European operations; The impact of
the COVID-19 pandemic, and governmental guidance and regulations
aimed at addressing the pandemic, including any possible impact on
our business, operations, financial condition, results of
operation, global supply chains or workforce; The impact of the war
in Ukraine, including any sanctions and export controls targeting
Russia and businesses tied to Russia and to sanctioned entities and
individuals, including any possible impact on our business,
operations, financial condition, results of operations and global
supply chains; The future financial and operating performance of
Century and its subsidiaries; Our ability to successfully manage
market risk and to control or reduce costs; Our plans and
expectations with respect to future operations of the Company and
its subsidiaries, including any plans and expectations to curtail
or restart production, including the expected impact of any such
actions on our future financial and operating performance; Our
plans and expectations with regards to future operations of our Mt.
Holly smelter, including our expectations as to the restart of
curtailed production at Mt. Holly, including the timing, costs and
benefits associated with restarting curtailed production; Our plans
with regards to future operations of our Hawesville smelter,
including our expectations as to the timing, costs and benefits
associated with restarting curtailed production; Our plans and
expectations with regards to the Grundartangi casthouse project,
including our expectations as to the timing, costs and benefits
associated with the Grundartangi casthouse project; Our plans and
expectations with respect to the acquisition of a 55% interest in
Jamalco, including our expectations as to the costs and benefits
associated with this transaction; Our ability to successfully
obtain and/or retain competitive power arrangements for our
operations; The impact of Section 232 relief, including tariffs or
other trade remedies, the extent to which any such remedies may be
changed, including through exclusions or exemptions, and the
duration of any trade remedy; The impact of any new or changed law,
regulation, including, without limitation, sanctions or other
similar remedies or restrictions or any changes in interpretation
of existing laws or regulations; Our anticipated tax liabilities,
benefits or refunds including the realization of U.S. and certain
foreign deferred tax assets and liabilities; Our ability to access
existing or future financing arrangements and the terms of any such
future financing arrangements; Our ability to repay or refinance
debt in the future; Our ability to recover losses from our
insurance; Our assessment and estimates of our pension and other
postretirement liabilities, legal and environmental liabilities and
other contingent liabilities; Our assessment of any future tax
audits or insurance claims and their respective outcomes;
Negotiations with labor unions or future representation by a union
of our employees; Our assessment of any information
technology-related risks, including the risk from cyberattacks or
other data security breaches, including the cybersecurity incident
that occurred on February 16, 2022; Our plans and expectations
regarding potential M&A including our ability to consummate
such transactions and our assessments of certain risks associated
with the same, including, for example, unforeseen costs and
expenses associated with unidentified liabilities, and difficulties
integrating an acquired asset into our existing operations; Our
future business objectives, plans, strategies and initiatives,
including our competitive position and prospects.
Where we express an expectation or belief as to
future events or results, such expectation or belief is expressed
in good faith and believed to have a reasonable
basis. However, our forward-looking statements are based on
current expectations and assumptions that are subject to risks and
uncertainties which may cause actual results to differ materially
from future results expressed, projected or implied by those
forward-looking statements. Important factors that could cause
actual results and events to differ from those described in such
forward-looking statements can be found in the risk factors and
forward-looking statements cautionary language contained in our
Annual Report on Form 10-K, Quarterly reports on Form 10-Q and in
other filings made with the Securities and Exchange
Commission. Although we have attempted to identify those
material factors that could cause actual results or events to
differ from those described in such forward-looking statements,
there may be other factors that could cause actual results or
events to differ from those anticipated, estimated or
intended. Many of these factors are beyond our ability to
control or predict. Given these uncertainties, the reader is
cautioned not to place undue reliance on our forward-looking
statements. We undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events, or otherwise.
|
CENTURY
ALUMINUM COMPANY |
CONSOLIDATED
STATEMENTS OF OPERATIONS |
(in millions, except
per share amounts) |
(Unaudited) |
|
Three months
ended |
|
March 31, |
|
June 30, |
|
2023 |
|
2023 |
NET
SALES: |
|
|
|
Related parties |
$ |
412.2 |
|
|
$ |
427.2 |
|
Other customers |
|
140.2 |
|
|
|
148.3 |
|
Total net
sales |
|
552.4 |
|
|
|
575.5 |
|
Cost of goods sold |
|
504.3 |
|
|
|
559.6 |
|
Gross
profit |
|
48.1 |
|
|
|
15.9 |
|
Selling, general and administrative expenses |
|
13.4 |
|
|
|
12.0 |
|
Other operating expense - net |
|
7.2 |
|
|
|
4.6 |
|
Operating
income (loss) |
|
27.5 |
|
|
|
(0.7 |
) |
Interest expense |
|
(8.7 |
) |
|
|
(8.7 |
) |
Interest income |
|
0.3 |
|
|
|
0.4 |
|
Net (loss) gain on forward and derivative contracts |
|
(57.6 |
) |
|
|
9.1 |
|
Other expense - net |
|
(0.3 |
) |
|
|
(3.5 |
) |
Loss before
income taxes |
|
(38.8 |
) |
|
|
(3.4 |
) |
Income tax benefit |
|
0.2 |
|
|
|
10.0 |
|
(Loss)
income before equity in earnings of joint ventures |
|
(38.6 |
) |
|
|
6.6 |
|
Equity in losses of joint ventures |
|
— |
|
|
|
0.0 |
|
Net (loss)
income |
|
(38.6 |
) |
|
|
6.6 |
|
Net loss attributable to noncontrolling interests |
|
— |
|
|
|
(0.9 |
) |
Net (loss)
income attributable to Century stockholders |
|
(38.6 |
) |
|
|
7.5 |
|
Less: net
income allocated to participating securities |
|
— |
|
|
|
0.4 |
|
Net (loss)
income allocated to common stockholders |
$ |
(38.6 |
) |
|
$ |
7.1 |
|
(LOSS) INCOME ATTRIBUTABLE TO CENTURY STOCKHOLDERS PER COMMON
SHARE: |
Basic |
$ |
(0.42 |
) |
|
$ |
0.08 |
|
Diluted |
|
(0.42 |
) |
|
|
0.07 |
|
WEIGHTED
AVERAGE COMMON SHARES OUTSTANDING: |
|
|
|
Basic |
|
92.3 |
|
|
|
92.3 |
|
Diluted |
|
92.3 |
|
|
|
93.2 |
|
|
|
|
|
|
|
|
|
CENTURY ALUMINUM COMPANY |
CONSOLIDATED BALANCE SHEETS |
(in
millions, except per share amounts) |
(Unaudited) |
|
December 31, 2022 |
|
June 30, 2023 |
ASSETS |
|
|
|
|
|
Cash and cash equivalents |
$ |
54.3 |
|
|
$ |
50.6 |
|
Restricted
cash |
1.2 |
|
|
10.9 |
|
Accounts
receivable - net |
66.9 |
|
|
48.8 |
|
Due from
affiliates |
4.8 |
|
|
18.2 |
|
Inventories |
398.8 |
|
|
510.8 |
|
Derivative
assets |
127.3 |
|
|
34.5 |
|
Prepaid and
other current assets |
24.5 |
|
|
26.2 |
|
Total
current assets |
677.8 |
|
|
700.0 |
|
Property,
plant and equipment - net |
744.4 |
|
|
860.8 |
|
Deferred tax
assets |
0.2 |
|
|
110.8 |
|
Other
assets |
49.6 |
|
|
75.7 |
|
TOTAL |
$ |
1,472.0 |
|
|
$ |
1,747.3 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
LIABILITIES: |
|
|
|
|
|
Accounts
payable, trade |
$ |
167.3 |
|
|
$ |
191.2 |
|
Accrued
compensation and benefits |
33.0 |
|
|
42.3 |
|
Due to
affiliates |
17.0 |
|
|
13.8 |
|
Accrued and
other current liabilities |
37.6 |
|
|
66.6 |
|
Derivative
liabilities |
9.7 |
|
|
3.6 |
|
Deferred
credit - preliminary bargain purchase gain |
— |
|
|
103.3 |
|
Iceland term
facility |
13.3 |
|
|
8.6 |
|
U.S.
revolving credit facility |
90.0 |
|
|
63.2 |
|
Iceland
revolving credit facility |
35.0 |
|
|
73.0 |
|
Industrial
revenue bonds |
7.8 |
|
|
7.8 |
|
Total
current liabilities |
410.7 |
|
|
573.4 |
|
Senior notes
payable |
246.6 |
|
|
247.0 |
|
Convertible
senior notes payable |
84.4 |
|
|
84.5 |
|
Grundartangi
casthouse debt facility |
49.4 |
|
|
69.3 |
|
Iceland term
facility, net of current portion |
1.2 |
|
|
— |
|
Accrued
benefit costs - less current portion |
118.0 |
|
|
116.8 |
|
Other
liabilities |
10.5 |
|
|
11.1 |
|
Leases -
right of use liabilities |
20.9 |
|
|
21.8 |
|
Due to
affiliates - less current portion |
8.3 |
|
|
1.5 |
|
Deferred tax
liability |
103.1 |
|
|
93.0 |
|
Asset
retirement obligation |
19.6 |
|
|
124.1 |
|
Total
noncurrent liabilities |
662.0 |
|
|
769.1 |
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
Series A
Preferred stock (one cent par value, 5,000,000 shares authorized;
160,000 issued and 53,854 outstanding at December 31, 2022 and
160,000 issued; 53,706 outstanding at June 30, 2023) |
0.0 |
|
|
0.0 |
|
Common stock
(one cent par value, 195,000,000 authorized; 99,510,499 issued and
92,323,978 outstanding at December 31, 2022; 99,545,070 issued
and 92,358,549 outstanding June 30, 2023) |
1.0 |
|
|
1.0 |
|
Additional
paid-in capital |
2,539.6 |
|
|
2,541.0 |
|
Treasury
stock, at cost |
(86.3 |
) |
|
(86.3 |
) |
Accumulated
other comprehensive loss |
(94.0 |
) |
|
(90.7 |
) |
Accumulated
deficit |
(1,961.0 |
) |
|
(1,992.1 |
) |
Total
Century shareholders’ equity |
399.3 |
|
|
372.9 |
|
Noncontrolling interest |
— |
|
|
31.9 |
|
Total equity |
399.3 |
|
|
404.8 |
|
TOTAL |
$ |
1,472.0 |
|
|
$ |
1,747.3 |
|
|
|
|
|
|
|
|
|
CENTURY ALUMINUM COMPANY |
CONSOLIDATED STATEMENTS OF CASH
FLOWS |
(in
millions) |
(Unaudited) |
|
Six months ended June 30, |
|
2022 |
|
2023 |
CASH FLOWS
FROM OPERATING ACTIVITIES: |
|
|
|
|
|
Net income (loss) |
$ |
55.1 |
|
|
$ |
(32.0 |
) |
Adjustments to reconcile net income (loss) to net cash provided by
(used in) operating activities: |
|
|
|
|
|
Unrealized (gain) loss on derivative instruments |
(217.5 |
) |
|
66.3 |
|
Lower of cost or NRV adjustment |
52.8 |
|
|
— |
|
Depreciation and amortization |
42.1 |
|
|
31.5 |
|
Deferred tax provision (benefit) |
41.9 |
|
|
(12.6 |
) |
Asset impairment charge |
159.4 |
|
|
— |
|
Other non-cash items - net |
(9.0 |
) |
|
3.7 |
|
Change in operating assets and liabilities, net of
acquisition: |
|
|
|
|
|
Accounts receivable - net |
(41.6 |
) |
|
26.0 |
|
Due from affiliates |
(8.7 |
) |
|
(12.2 |
) |
Inventories |
(43.0 |
) |
|
(18.5 |
) |
Prepaid and other current assets |
1.1 |
|
|
7.7 |
|
Accounts payable, trade |
47.5 |
|
|
(72.9 |
) |
Due to affiliates |
(28.8 |
) |
|
7.7 |
|
Accrued and other current liabilities |
16.6 |
|
|
3.0 |
|
Other - net |
0.7 |
|
|
0.4 |
|
Net cash
provided by (used in) operating activities |
68.6 |
|
|
(1.9 |
) |
CASH FLOWS
FROM INVESTING ACTIVITIES: |
|
|
|
|
|
Purchase of property, plant and equipment |
(51.8 |
) |
|
(36.6 |
) |
Proceeds from sale of property, plant and equipment |
0.1 |
|
|
— |
|
Acquisition of subsidiary net of cash acquired |
— |
|
|
19.4 |
|
Net cash
used in investing activities |
(51.7 |
) |
|
(17.2 |
) |
CASH FLOWS
FROM FINANCING ACTIVITIES: |
|
|
|
|
|
Borrowings under revolving credit facilities |
596.4 |
|
|
407.8 |
|
Repayments under revolving credit facilities |
(660.0 |
) |
|
(396.6 |
) |
Debt issuance costs |
(1.5 |
) |
|
— |
|
Repayments of Iceland term facility |
— |
|
|
(6.1 |
) |
Borrowings under Grundartangi casthouse debt facility |
40.0 |
|
|
20.0 |
|
Net cash
(used in) provided by financing activities |
(25.1 |
) |
|
25.1 |
|
CHANGE IN
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH |
(8.2 |
) |
|
6.0 |
|
Cash, cash
equivalents and restricted cash, beginning of period |
40.7 |
|
|
55.5 |
|
Cash, cash
equivalents and restricted cash, end of period |
$ |
32.5 |
|
|
$ |
61.5 |
|
|
|
|
|
|
|
Supplemental
Cash Flow Information: |
|
|
|
|
|
Cash paid
for: |
|
|
|
|
|
Interest |
$ |
13.1 |
|
|
$ |
17.9 |
|
Taxes, net of refunds |
1.2 |
|
|
(0.3 |
) |
Non-cash
investing activities: |
|
|
|
|
|
Capital expenditures |
2.6 |
|
|
7.8 |
|
Capitalized Interest |
2.9 |
|
|
2.3 |
|
|
|
|
|
|
|
CENTURY
ALUMINUM COMPANY |
SELECTED
OPERATING DATA |
(in millions, except
shipments) |
(Unaudited) |
|
SHIPMENTS -
PRIMARY ALUMINUM(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
Iceland |
|
Total |
|
|
Tonnes |
|
Sales $ |
|
Tonnes |
|
Sales $ |
|
Tonnes |
|
Sales $ |
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
2nd Quarter |
|
97,224 |
|
$ |
296.4 |
|
76,425 |
|
$ |
212.3 |
|
173,649 |
|
$ |
508.7 |
1st
Quarter |
|
102,430 |
|
|
317.6 |
|
78,735 |
|
|
210.1 |
|
181,165 |
|
|
527.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
2nd Quarter |
|
139,630 |
|
$ |
564.8 |
|
74,454 |
|
$ |
273.2 |
|
214,084 |
|
$ |
838.0 |
1st
Quarter |
|
134,953 |
|
|
494.8 |
|
76,458 |
|
|
247.5 |
|
211,411 |
|
|
742.3 |
(1) Excludes scrap aluminum sales, purchased
aluminum and alumina sales.
|
CENTURY
ALUMINUM COMPANY |
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES |
(in millions, except
per share amounts) |
(Unaudited) |
|
|
Three months
ended |
|
March 31, 2023 |
|
June 30, 2023 |
|
$MM |
|
EPS |
|
$MM |
|
EPS |
Net (loss) income attributable to Century
stockholders(1) |
$ |
(38.6 |
) |
|
$ |
(0.42 |
) |
|
$ |
6.9 |
|
|
$ |
0.07 |
|
Lower of cost or NRV inventory adjustment, net of tax |
|
(25.6 |
) |
|
|
(0.28 |
) |
|
|
6.6 |
|
|
|
0.06 |
|
Unrealized loss (gain) on derivative contracts, net of tax |
|
47.8 |
|
|
|
0.52 |
|
|
|
(4.3 |
) |
|
|
(0.04 |
) |
Hawesville curtailment costs |
|
5.4 |
|
|
|
0.06 |
|
|
|
3.6 |
|
|
|
0.04 |
|
Share-based compensation |
|
2.2 |
|
|
|
0.02 |
|
|
|
1.6 |
|
|
|
0.02 |
|
Litigation settlement |
|
(2.5 |
) |
|
|
(0.03 |
) |
|
|
— |
|
|
|
— |
|
Jamalco acquisition costs |
|
— |
|
|
|
— |
|
|
|
0.7 |
|
|
|
0.01 |
|
Impact of preferred and convertible shares |
|
— |
|
|
|
0.02 |
|
|
|
0.4 |
|
|
|
— |
|
Adjusted net (loss) income attributable to Century
stockholders |
$ |
(11.3 |
) |
|
$ |
(0.11 |
) |
|
$ |
15.5 |
|
|
$ |
0.16 |
|
|
|
|
|
|
|
|
|
Notes: |
|
|
|
|
|
|
|
(1) In periods of
positive earnings, this represents earnings allocated to
participating dilutive shares. For the three months ended June 30,
2023, this includes earnings allocated to common stockholders
reduced by $0.2 million in share-based compensation related to the
equity classified awards. |
|
|
Three months
ended |
|
March 31, 2023 |
|
June 30, 2023 |
Net (loss) income attributable to Century stockholders, as
reported |
$ |
(38.6 |
) |
|
$ |
7.5 |
|
Add: Net
loss attributable to noncontrolling interests |
|
— |
|
|
|
(0.9 |
) |
Net
(loss) income |
|
(38.6 |
) |
|
|
6.6 |
|
Interest
expense |
|
8.7 |
|
|
|
8.7 |
|
Interest
income |
|
(0.3 |
) |
|
|
(0.4 |
) |
Net gain
(loss) on forward and derivative contracts |
|
57.6 |
|
|
|
(9.1 |
) |
Other income - net |
|
0.3 |
|
|
|
3.5 |
|
Income tax benefit |
|
(0.2 |
) |
|
|
(10.0 |
) |
Operating income (loss) |
|
27.5 |
|
|
|
(0.7 |
) |
Lower of cost or NRV inventory adjustment |
|
(26.2 |
) |
|
|
6.4 |
|
Hawesville curtailment costs |
|
5.4 |
|
|
|
3.6 |
|
Share-based compensation |
|
2.2 |
|
|
|
1.4 |
|
Litigation settlement |
|
(2.5 |
) |
|
|
— |
|
Jamalco acquisition costs |
|
— |
|
|
|
0.7 |
|
Depreciation
and amortization |
|
17.7 |
|
|
|
17.2 |
|
Adjusted EBITDA |
|
24.1 |
|
|
|
28.6 |
|
Less:
Adjusted EBITDA attributable to noncontrolling interests |
|
— |
|
|
|
(0.9 |
) |
Adjusted EBITDA attributable to Century
stockholders |
$ |
24.1 |
|
|
|
29.5 |
|
|
|
|
|
|
|
|
|
Contact Ryan Crawford (Investors
and media) 312-696-3132
Source: Century Aluminum Company
Century Aluminum (NASDAQ:CENX)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Century Aluminum (NASDAQ:CENX)
Historical Stock Chart
Von Mai 2023 bis Mai 2024