Century Aluminum Company Reports Fourth Quarter 2024 Results

About this update from Century Aluminum Company

[{"type":"text","content":"CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced its fourth quarter and full year 2024 results. Fourth Quarter 2024 Highlights Net sales $631.0 millionReported net income attributable to Century stockholders of $47.7 million, or $0.47 per diluted share; adjusted net income of $45.9 million1, or $0.49 per share; Adjusted EBITDA attributable to Century stockholders of $82.4 million1Ending cash and cash equivalents of $32.9 million and strong liquidity of $244.5 million as of December 31, 2024 Full Year 2024 Highlights Net sales $2.2 billionReported net income attributable to Century stockholders of $339.4 million, or $3.29 per share; adjusted net income of $104.0 million1, or $1.11 per share; Adjusted EBITDA attributable to Century stockholders of $245.2 million1Recorded highest annual production volume at Sebree, KY over past 5 yearsCompleted Iceland billet casthouse expansion project increasing value-add product offeringsRecorded $92.6 million Section 45X production tax credit including direct and indirect material costs now eligibleSelected by U.S. Department of Energy to receive $500.0 million grant to build a new aluminum smelter Fourth Quarter & Full Year 2024 Financial Results $MM (except shipments and per share data) Q4 2024Q3 2024 FY 2024FY 2023Shipments (tonnes) 166,677 168,755 677,967 700,680 Net sales$631.0$539.1 $2,220.3$2,185.4 Net income (loss) attributable to Century stockholders$47.7$47.3 $339.4$(43.1)Diluted earnings (loss) per share attributable to Century stockholders$0.47$0.46 $3.29$(0.47)Adjusted net income(1) attributable to Century stockholders$45.9$60.0 $104.0$30.7 Adjusted earnings per share(1) attributable to Century stockholders$0.49$0.63 $1.11$0.33 Adjusted EBITDA(1) attributable to Century stockholders$82.4$103.7 $245.2$120.0 Notes: (1) Non-GAAP measure; see reconciliation of GAAP to non-GAAP financial measures. 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. Century reported net income attributable to Century stockholders of $47.7 million for the fourth quarter of 2024, a $0.4 million improvement sequentially primarily attributed to a no...

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