Yahoo Finance Century Aluminum's (CENX) Q1 Earnings & Sales Beat Estimates
Century Aluminum Company CENX incurred a first-quarter 2023 loss of 42 cents per share against the year-ago quarter's earnings of 18 cents.
Barring one-time items, the loss per share was 11 cents in the reported quarter, narrower than the Zacks Consensus Estimate of a loss of 13 cents. The bottom line was particularly affected by the unrealized losses that the company recorded on derivative instruments. Curtailment costs relating to the Hawesville plant also hurt the results.
Century Aluminum Company Price, Consensus and EPS Surprise
Century Aluminum Company price-consensus-eps-surprise-chart | Century Aluminum Company Quote
Revenues and Shipments
The company generated net sales of $552.4 million in the reported quarter, down around 26.7% year over year. The figure beat the Zacks Consensus Estimate of $525.9 million.
Primary aluminum shipments were 181,165 tons, down around 14.3% year over year. Shipments rose 6.9% sequentially.
Financials
At the end of the quarter, the company had cash and cash equivalents of $30.4 million, up 14.3% year over year.
Net cash used by operating activities was $0.2 million in the quarter against net cash provided of $37.4 million in the year-ago period.
Outlook
Century expects its adjusted EBITDA in the second quarter to be in the range of $25-$30 million, factoring in improved power and input costs along with break-even or better Jamalco performance.
Price Performance
Shares of Century Aluminum have plunged 39.1% in the past year against a 6% rise of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
CENX currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the Industrial Products space include AptarGroup, Inc. ATR, Caterpillar Inc. CAT and Alamo Group Inc. ALG
AptarGroup currently carries a Zacks Rank #1 (Strong Buy). It has a projected earnings growth rate of 6.6% for the current year. Shares of ATR have gained 14.9% in the past year. It topped the Zacks Consensus Estimate in all the last four quarters. It delivered a trailing four-quarter earnings surprise of 6.4% on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar, currently carrying a Zacks Rank #1, has a projected earnings growth rate of 25.51% for the current year. The Zacks Consensus Estimate for CAT’s current-year earnings has been revised 16.9% upward in the past 60 days. It has a trailing four-quarter earnings surprise of 14.27%, on average. The stock has gained 3.9% over the past year.
Alamo Group currently carries a Zacks Rank #1. It has a projected earnings growth rate of 13.6% for the current year. Shares of ALG have gained 62.5% in the past year. It delivered a trailing four-quarter earnings surprise of 17.7% on average.
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