Century Aluminum reports Q4 EPS 49c, consensus 44c

Reports Q4 revenue $631M, consensus $515.27M. In the fourth quarter of 2024, shipments of primary aluminum decreased 1% sequentially. Net sales for the fourth quarter of 2024 increased by 17% sequentially primarily due to higher third-party alumina sales, higher aluminum price, and increased regional premiums. …improvement from Hurricane Beryl, and improved realized metal prices and regional premiums offset by the one-time IRA 45X adjustment for final regulations published in the third quarter. Adjusted EBITDA attributable to Century stockholders for the fourth quarter of 2024 was $82.4 million. This was a sequential decrease of $21.3 million due to updated U.S. Treasury guidance allowing a one-time Section 45X true up in the third quarter. Normalizing for the one-time Section 45X true up, Adjusted EBITDA improved primarily driven by favorable realized LME and regional price premiums and a nonrecurring benefit from a force majeure settlement, partially offset by additional operating expenses and higher raw materials costs. Century’s liquidity position at December 31, 2024, comprised of cash and cash equivalents of $32.9 million and $211.6 million in combined borrowing availability, was $244.5 million.