Century Aluminum reports Q3 EPS 63c, consensus 27c

Reports Q3 revenue $539.1M, consensus $535.7M.”Strong global demand, continued supply-side challenges and supportive macroeconomic policy in China and the West led to rising aluminum and alumina prices in the third quarter,” noted Century President and CEO Jesse Gary. “With bauxite and alumina supply chains facing a number of challenges around the world, we are thrilled to have our own strategic supply of bauxite and alumina from our Jamalco operations following the acquisition last year. ” “We were very pleased with the final Section 45X rules issued earlier this month that increase the amount of production tax credit we will receive and further bolsters the competitiveness of our U.S. operations. When combined with benefits of our Jamalco acquisition and growing demand for aluminum around the world, we believe Century is well positioned to offer our customers a unique value proposition and superior returns for our shareholders