Century Aluminum Company Reports First Quarter 2025 Results

About this update from Century Aluminum Company

[{"type":"text","content":"CHICAGO, May 07, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced its first quarter 2025 results. First Quarter 2025 Financial Results $MM (except shipments and per share data) Q1 2025 Q4 2024 Aluminum shipments (tonnes) 168,672 166,677 Net sales$633.9 $630.9 Net income attributable to Century stockholders$29.7 $45.2 Diluted earnings per share attributable to Century stockholders$0.29 $0.44 Adjusted net income attributable to Century stockholders(1)$36.6 $43.5 Adjusted earnings per share attributable to Century stockholders(1)$0.36 $0.42 Adjusted EBITDA attributable to Century stockholders(1)$78.0 $80.9 Notes: (1)Non-GAAP measure; see reconciliation of GAAP to non-GAAP financial measures. Business Highlights Shipped 168,672 tonnes, an increase of 1% sequentiallyReached net sales of $633.9 million, an increase of $3.0 million sequentiallyRealized Midwest premium of $602 increased 38% from prior quarterRecorded a positive impact of $16.2 million to Century results from the increase in Section 232 aluminum tariffs to 25%, along with the removal of country exemptionsAchieved adjusted EBITDA attributable to Century stockholders of $78.0 millionApproved a new, five-year labor contract for the Grundartangi smelterExtended power purchase agreement with largest power provider in Iceland, ON Power, through Q1 2032Posted cash and cash equivalents of $44.9 million and strong liquidity of $339.1 million as of March 31, 2025 Net sales for the first quarter ended March 31, 2025 increased by $3.0 million sequentially primarily driven by higher LME aluminum price, higher regional premium, and favorable volume and mix, partially offset by a decrease in third-party alumina sales. Century reported net income attributable to Century stockholders of $29.7 million for the first quarter of 2025, a $15.5 million decrease sequentially. The decrease in net income attributable to Century stockholders during the first quarter of 2025 was primarily driven by higher input costs, and losses on derivative instruments, partially offset by higher metal and regional premium prices. First quarter results were also impacted by $8.4 million of net exceptional items, in particular, $3.5 million of emergency energy charges at our Mt. Holly smelter, and $3.0 million of unrealized losses on derivative instruments, net of tax. Therefore, Ce...

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