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Century Aluminum (CENX)
NASDAQ:CENX
Holding CENX?
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.6Last Year’s EPS
$0.39Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 8.32%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with strong financial performance and favorable market conditions, despite challenges such as the safety incident and power curtailments.Company Guidance
During the Century Aluminum Company's third-quarter 2024 earnings call, management provided guidance indicating strong market conditions in aluminum and alumina. The company achieved an adjusted EBITDA of $104 million, driven by improved aluminum prices at the LME and regional premium levels, alongside declining carbon prices. This performance was bolstered by benefits from updated Section 45X guidance, which contributed $22 million for 2023 and $13 million year-to-date in 2024. Century anticipates continued aluminum demand growth, with global demand estimated to rise by 3% in 2024, while supply challenges persist, notably in China. The company expects to benefit from favorable aluminum prices and market dynamics in the coming years, with global aluminum prices reaching $2,600 per ton in October. Additionally, the Department of Treasury's final regulations on Section 45X improved eligibility for certain production costs, potentially enhancing Century's tax credits by $30 million annually if alumina is included. The outlook for Q4 predicts an adjusted EBITDA range between $70 million to $80 million, with anticipated benefits from Q1 2025 due to spot aluminum prices exceeding $2,600 per ton.Strong Third Quarter Performance
Century Aluminum generated an adjusted EBITDA of $104 million in Q3, driven by improving aluminum prices and falling carbon prices.
Record Alumina Prices
Spot Atlantic alumina price reached an all-time record of $715 per ton due to supply disruptions and low inventory levels.
Section 45X Tax Credit Benefits
Century realized an additional $22 million in 2023 and $13 million year-to-date in 2024 from the inclusion of new eligible cost categories.
Stable Operations
Operations at Sebree and Mt. Holly remained stable, and Jamalco fully recovered from Hurricane Barrel, returning to normal production levels.
Positive Market Outlook
Global aluminum demand is at record levels with a 3% growth expected in 2024, accelerating further in 2025.
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CENX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CENX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $17.54 | $21.05 | +20.01% |
| Aug 08, 2024 | $12.93 | $12.61 | -2.47% |
| May 01, 2024 | $17.35 | $16.01 | -7.72% |
| Feb 21, 2024 | $10.60 | $10.25 | -3.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Century Aluminum (CENX) report earnings?
Century Aluminum (CENX) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Century Aluminum (CENX) earnings time?
Century Aluminum (CENX) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CENX EPS forecast?
CENX EPS forecast for the fiscal quarter 2024 (Q4) is $0.6.
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