Markets

Century Aluminum (CENX) Q1 Earnings & Revenues Top Estimates

Century Aluminum CompanyCENX reported a loss of $0.3 million in first-quarter 2018 as compared with a loss of $15.1 million in the year-ago period. On a reported per share basis, the company reported break-even results compared with a loss of 17 cents per share it recorded in the year-ago period.

Results in the reported quarter were favorably impacted by a $3.2-million benefit from lower of cost or net realizable value inventory adjustments.

Barring one-time items, Century Aluminum's adjusted loss was 4 cents per share in the quarter, which was narrower than the Zacks Consensus Estimate of a loss of 23 cents.

Revenues and Shipments

The company registered revenues of $454.5 million in the reported quarter, up around 5% year over year. It surpassed the Zacks Consensus Estimate of $437 million. Shipments of primary aluminum in the quarter were 187,238 tons, up from 186,395 tons shipped in the year-ago quarter.

Century Aluminum Company Price, Consensus and EPS Surprise

Century Aluminum Company Price, Consensus and EPS Surprise | Century Aluminum Company Quote

Financials

Century Aluminum ended the quarter with cash and cash equivalents of $130.8 million, up 3.8% year over year. Net cash used operating activities for the quarter was $33 million.

Outlook

Century Aluminum is seeing strong industry fundamentals and attractive demand growth in most global regions. It expects significant opportunity in the U.S. market over the coming years along with limited exemptions from tariffs. The company also plans to restart the three potlines at its Hawesville plant and complete several capital projects required to help the plant achieve full-production capacity again. The plant is anticipated to return to full capacity by early 2019.

Price Performance

Century Aluminum's shares have gained 24.6% over a year, outperforming the 14.1% decline recorded by its industry .

Zacks Rank and Stocks to Consider

Century Aluminum currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Kronos Worldwide Inc. KRO , Westlake Chemical Corporation WLK and Steel Dynamics Inc. STLD . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

Kronos has an expected long-term earnings growth rate of 5%. Its shares have gained 33.4% over a year.

Westlake Chemical has an expected long-term earnings growth rate of 12.18%. Its shares have rallied 70.15% over a year.

Steel Dynamics has an expected long-term earnings growth rate of 12%. Its shares have moved up 23.65% over a year.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation

See Them Free>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kronos Worldwide Inc (KRO): Free Stock Analysis Report

Westlake Chemical Corporation (WLK): Free Stock Analysis Report

Century Aluminum Company (CENX): Free Stock Analysis Report

Steel Dynamics, Inc. (STLD): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CENX KRO WLK STLD

Other Topics

Earnings Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More