Century Aluminum Company (NASDAQ: CENX) today announced its third
quarter 2022 results.
Business Highlights
- Shipments down 19% sequentially related to the Hawesville
curtailment
- Realized LME aluminum price of $2,636/T in third quarter is
down $425/T from prior quarter
- Strong total liquidity of $215 million as of September 30,
2022
- Fixed remaining 2022 - 2023 Nord Pool exposure at attractive
prices; derisks Iceland power costs
- Expanded and implemented cost reduction plans across plants and
corporate
- New Vlissingen credit facility of $90.0 million agreed to in
November 2022
Third Quarter 2022 Financial Results
$MM (except shipments and per share data) |
|
|
|
|
|
Q2 2022 |
|
Q3 2022 |
Shipments (tonnes) |
|
|
214,084 |
|
|
173,725 |
|
Net
sales |
|
$ |
856.6 |
|
$ |
637.2 |
|
Net
income |
|
$ |
37.4 |
|
$ |
44.3 |
|
Diluted
earnings per share |
|
$ |
0.36 |
|
$ |
0.43 |
|
Adjusted
net income/(loss)(1) |
|
$ |
30.4 |
|
$ |
(34.2 |
) |
Adjusted
earnings/(loss) per share(1) |
|
$ |
0.30 |
|
$ |
(0.34 |
) |
Adjusted EBITDA(1) |
|
$ |
86.6 |
|
$ |
(35.9 |
) |
Notes: (1) Non-GAAP measure; see reconciliation of GAAP to
non-GAAP financial measures.
Shipments of primary aluminum for the quarter ended
September 30, 2022 decreased 19 percent sequentially, driven
primarily by reduced volumes from Hawesville in connection with the
previously announced curtailment of production at the facility. Net
sales for the third quarter of 2022 decreased by 26 percent
sequentially due to lower realized aluminum prices and unfavorable
volume, primarily attributable to the decision to fully curtail our
Hawesville smelter.
Century reported net income of $44.3 million for the third
quarter of 2022, a $6.9 million increase sequentially. Third
quarter results were impacted by $78.8 million of net exceptional
items, in particular $69.5 million of unrealized gains on
derivative instruments, $6.3 million lower of cost or net
realizable value adjustment and $3.6 million in curtailment costs
related to the Hawesville plant, partially offset by $0.6 million
in share-based compensation costs. Thus, Century reported an
adjusted net loss of $(34.2) million for the third quarter of 2022,
a $64.6 million decrease sequentially.
Adjusted EBITDA for the third quarter of 2022 was $(35.9)
million. This was a decrease of $122.5 million from the prior
quarter, more than explained by lower LME and regional premiums, as
well as higher energy and other raw material costs, partially
offset by the curtailment at our Hawesville facility.
Century's liquidity position at quarter end was $215.1 million.
Additionally, we agreed to a new $90.0 million credit facility
secured by our Vlissingen assets. The Vlissingen credit facility
will be available beginning December 2022, increasing liquidity by
$90.0 million.
“While the global energy crisis and difficult industry
conditions continued to present challenges in the third quarter,
Century remains well positioned to operate all of our businesses
through this portion of the commodity cycle and benefit from the
long-term trends towards value-added aluminum products," commented
President and Chief Executive Officer Jesse Gary. “We took several
proactive measures to lower our cost structure, reduce our exposure
to market energy prices and improve our liquidity. Among these
measures, we have agreed with our energy supplier in Iceland to
convert our remaining unhedged Nord Pool exposure to a fixed price.
We have also significantly bolstered our liquidity position with a
new $90 million credit facility secured by our Vlissingen assets.
We are confident that these actions, combined with the continuing
excellent work from our operations teams, leave us well-situated to
continue to execute on our long-term strategies and create value
for our stakeholders.”
About Century Aluminum Company
Century Aluminum Company owns primary aluminum capacity in the
United States and Iceland. Century's corporate offices are located
in Chicago, IL. Visit www.centuryaluminum.com for more
information.
Non-GAAP Financial Measures
Adjusted net income (loss), adjusted earnings (loss) per share
and adjusted EBITDA are non-GAAP financial measures that management
uses to evaluate Century's financial performance. These non-GAAP
financial measures facilitate comparisons of this period’s results
with prior periods on a consistent basis by excluding items that
management does not believe are indicative of Century’s ongoing
operating performance and ability to generate cash. Management
believes these non-GAAP financial measures enhance an overall
understanding of Century’s performance and our investors’ ability
to review Century’s business from the same perspective as
management. The tables below, under the heading "Reconciliation of
Non-GAAP Financial Measures," provide a reconciliation of each
non-GAAP financial measure to the most directly comparable GAAP
financial measure. Non-GAAP financial measures should be viewed in
addition to, and not as an alternative for, Century's reported
results prepared in accordance with GAAP. In addition, because not
all companies use identical calculations, adjusted net income
(loss), adjusted earnings (loss) per share and adjusted EBITDA
included in this press release may not be comparable to similarly
titled measures of other companies. Investors are encouraged to
review the reconciliations in conjunction with the presentation of
these non-GAAP financial measures.
Cautionary Statement
This press release and statements made by Century Aluminum
Company management on the quarterly conference call contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are statements about future
events and are based on our current expectations. These
forward-looking statements may be identified by the words
"believe," "expect," "hope," "target," "anticipate," "intend,"
"plan," "seek," "estimate," "potential," "project," "scheduled,"
"forecast" or words of similar meaning, or future or conditional
verbs such as "will," "would," "should," "could," "might," or
"may." Our forward-looking statements include, without limitation,
statements with respect to: our assessment of global and local
financial and economic conditions; our assessment of the aluminum
market and aluminum prices (including premiums); our assessment of
alumina pricing, the outlook on when energy prices, both in the
United States and Europe, may return to more normalized levels,
costs associated with our other key raw materials, and supply and
availability of those key raw materials, including power (and
related natural gas and coal), the likelihood and extent of any
power curtailments; the impact of the COVID-19 pandemic, and
governmental guidance and regulations aimed at addressing the
pandemic, including any possible impact on our business,
operations, financial condition, results of operation, global
supply chains or workforce; the impact of the war in Ukraine,
including any sanctions and export controls targeting Russia and
businesses tied to Russia and to sanctioned entities and
individuals, including any possible impact on our business,
operations, financial condition, results of operations and global
supply chains; the future financial and operating performance of
Century and its subsidiaries; our ability to successfully manage
market risk and to control or reduce costs; our plans and
expectations with respect to future operations, including any plans
and expectations to curtail or restart production, including the
expected impact of any such actions on our future financial and
operating performance; our plans and expectations with regards to
future operations of our Mt. Holly smelter, including our
expectations as to the restart of curtailed production at Mt.
Holly, including the timing, costs and benefits associated with
this restart project; our plans with regards to future operations
of our Hawesville smelter, including our expectations as to the
timing, costs and benefits associated with restarting curtailed
production; our plans and expectations with regards to the
Grundartangi casthouse project, including our expectations as to
the timing, costs and benefits associated with the Grundartangi
casthouse project; our ability to successfully obtain and/or retain
competitive power arrangements for our operations; the impact of
Section 232 relief, including tariffs or other trade remedies, the
extent to which any such remedies may be changed, including through
exclusions or exemptions, and the duration of any trade remedy; the
impact of any new or changed law, regulation, including, without
limitation, sanctions or other similar remedies or restrictions;
our anticipated tax liabilities, benefits or refunds including the
realization of U.S. and certain foreign deferred tax assets and
liabilities; our ability to access existing or future financing
arrangements and the terms of any such future financing
arrangements; our ability to repay or refinance debt in the future;
our ability to recover losses from our insurance; our assessment
and estimates of our pension and other postretirement liabilities,
legal and environmental liabilities and other contingent
liabilities; our assessment of any future tax audits or insurance
claims and their respective outcomes; negotiations with current
labor unions or future representation by a union of our employees;
our assessment of any information technology related risks,
including the risks from the previously disclosed February 2022
cyber incursion event; and our future business objectives, plans,
strategies and initiatives, including our competitive position and
prospects.
Where we express an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and
believed to have a reasonable basis. However, our forward-looking
statements are based on current expectations and assumptions that
are subject to risks and uncertainties which may cause actual
results to differ materially from future results expressed,
projected or implied by those forward-looking statements. Important
factors that could cause actual results and events to differ from
those described in such forward-looking statements can be found in
the risk factors and forward-looking statements cautionary language
contained in our Annual Report on Form 10-K, quarterly reports on
Form 10-Q and in other filings made with the Securities and
Exchange Commission. Although we have attempted to identify those
material factors that could cause actual results or events to
differ from those described in such forward-looking statements,
there may be other factors that could cause actual results or
events to differ from those anticipated, estimated or intended.
Many of these factors are beyond our ability to control or predict.
Given these uncertainties, investors are cautioned not to place
undue reliance on our forward-looking statements. We undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
CENTURY ALUMINUM COMPANY |
CONSOLIDATED STATEMENTS OF OPERATIONS |
(in millions, except per share amounts) |
(Unaudited) |
|
|
Three months ended |
|
|
June 30, |
|
September 30, |
|
|
|
2022 |
|
|
|
2022 |
|
NET SALES: |
|
|
|
|
Related parties |
|
$ |
483.5 |
|
|
$ |
404.9 |
|
Other customers |
|
|
373.1 |
|
|
|
232.3 |
|
Total net sales |
|
|
856.6 |
|
|
|
637.2 |
|
Cost of goods sold |
|
|
840.7 |
|
|
|
680.2 |
|
Gross profit (loss) |
|
|
15.9 |
|
|
|
(43.0 |
) |
Selling, general and administrative expenses |
|
|
5.8 |
|
|
|
8.7 |
|
Asset impairment charge |
|
|
159.4 |
|
|
|
— |
|
Other operating expense (income) - net |
|
|
0.2 |
|
|
|
(0.2 |
) |
Operating income (loss) |
|
|
(149.5 |
) |
|
|
(51.5 |
) |
Interest expense |
|
|
(5.7 |
) |
|
|
(7.9 |
) |
Interest income |
|
|
— |
|
|
|
0.1 |
|
Net gain (loss) on forward and derivative contracts |
|
|
231.8 |
|
|
|
112.6 |
|
Other income (expense) - net |
|
|
3.1 |
|
|
|
11.6 |
|
Income (loss) before income
taxes |
|
|
79.7 |
|
|
|
64.9 |
|
Income tax benefit (expense) |
|
|
(42.3 |
) |
|
|
(20.6 |
) |
Income (loss) before equity in
earnings (losses) of joint ventures |
|
|
37.4 |
|
|
|
44.3 |
|
Equity in earnings (losses) of joint ventures |
|
|
— |
|
|
|
(0.0 |
) |
Net income (loss) |
|
$ |
37.4 |
|
|
$ |
44.3 |
|
Less: net income (loss)
allocated to participating securities |
|
|
2.3 |
|
|
|
2.7 |
|
Net income (loss) allocated to
common stockholders |
|
$ |
35.1 |
|
|
$ |
41.6 |
|
EARNINGS (LOSS) PER COMMON
SHARE: |
|
|
|
|
Basic |
|
$ |
0.38 |
|
|
$ |
0.46 |
|
Diluted |
|
$ |
0.36 |
|
|
$ |
0.43 |
|
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING: |
|
|
|
|
Basic |
|
|
91.2 |
|
|
|
91.3 |
|
Diluted |
|
|
97.6 |
|
|
|
97.3 |
|
|
|
|
|
|
CENTURY ALUMINUM COMPANY |
CONSOLIDATED BALANCE SHEETS |
(in millions, except per share amounts) |
(Unaudited) |
|
December 31, 2021 |
|
September 30, 2022 |
ASSETS |
|
|
|
Cash and cash equivalents |
$ |
29.0 |
|
|
$ |
64.8 |
|
Restricted cash |
|
11.7 |
|
|
|
1.2 |
|
Accounts receivable - net |
|
80.6 |
|
|
|
72.1 |
|
Due from affiliates |
|
8.3 |
|
|
|
14.7 |
|
Inventories |
|
425.6 |
|
|
|
383.2 |
|
Derivative assets - current |
|
34.8 |
|
|
|
198.1 |
|
Prepaid and other current
assets |
|
28.2 |
|
|
|
24.5 |
|
Total current assets |
|
618.2 |
|
|
|
758.6 |
|
Property, plant and equipment -
net |
|
892.5 |
|
|
|
740.9 |
|
Due from affiliates - less
current portion |
|
— |
|
|
|
0.2 |
|
Derivative assets - less
current portion |
|
8.1 |
|
|
|
29.9 |
|
Other assets |
|
51.1 |
|
|
|
54.0 |
|
TOTAL |
$ |
1,569.9 |
|
|
$ |
1,583.6 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
LIABILITIES: |
|
|
|
Accounts payable, trade |
$ |
186.5 |
|
|
$ |
170.9 |
|
Due to affiliates |
|
65.8 |
|
|
|
15.1 |
|
Accrued and other current
liabilities |
|
62.7 |
|
|
|
66.0 |
|
Derivative liabilities |
|
102.1 |
|
|
|
22.6 |
|
Accrued employee benefits
costs |
|
8.9 |
|
|
|
10.2 |
|
U.S. revolving credit
facility |
|
63.6 |
|
|
|
63.5 |
|
Iceland revolving credit
facility |
|
50.0 |
|
|
|
50.0 |
|
Industrial revenue bonds |
|
7.8 |
|
|
|
7.8 |
|
Total current liabilities |
|
547.4 |
|
|
|
406.1 |
|
Senior notes payable |
|
245.8 |
|
|
|
246.4 |
|
Convertible senior notes
payable |
|
84.0 |
|
|
|
84.3 |
|
Grundartangi casthouse debt
facility |
|
— |
|
|
|
39.4 |
|
Accrued pension benefits costs -
less current portion |
|
28.6 |
|
|
|
24.1 |
|
Accrued postretirement benefits
costs - less current portion |
|
93.3 |
|
|
|
90.9 |
|
Other liabilities |
|
46.3 |
|
|
|
39.7 |
|
Leases - right of use
liabilities |
|
22.9 |
|
|
|
19.8 |
|
Due to affiliates - less current
portion |
|
21.9 |
|
|
|
4.5 |
|
Deferred taxes |
|
58.7 |
|
|
|
111.8 |
|
Total noncurrent liabilities |
|
601.5 |
|
|
|
660.9 |
|
|
|
|
|
SHAREHOLDERS’
EQUITY: |
|
|
|
Series A Preferred stock (one cent par value, 5,000,000 shares
authorized; 160,000 issued and 58,542 outstanding at December 31,
2021; 58,046 issued and outstanding at September 30,
2022) |
|
0.0 |
|
|
|
0.0 |
|
Common stock (one cent par value, 195,000,000 authorized;
98,418,132 issued and 91,231,611 outstanding at December 31, 2021;
98,533,750 issued and 91,347,229 outstanding at September 30,
2022) |
|
1.0 |
|
|
|
1.0 |
|
Additional paid-in capital |
|
2,535.5 |
|
|
|
2,537.6 |
|
Treasury stock, at cost |
|
(86.3 |
) |
|
|
(86.3 |
) |
Accumulated other comprehensive
loss |
|
(82.3 |
) |
|
|
(88.2 |
) |
Accumulated deficit |
|
(1,946.9 |
) |
|
|
(1,847.5 |
) |
Total shareholders’ equity |
|
421.0 |
|
|
|
516.6 |
|
TOTAL |
$ |
1,569.9 |
|
|
$ |
1,583.6 |
|
CENTURY ALUMINUM COMPANY |
CONSOLIDATED STATEMENTS OF CASH FLOWS |
(in millions) |
(Unaudited) |
|
Nine months ended September 30, |
|
|
2021 |
|
|
|
2022 |
|
CASH FLOWS FROM OPERATING
ACTIVITIES: |
|
|
|
Net income (loss) |
$ |
(227.5 |
) |
|
$ |
99.4 |
|
Adjustments to reconcile net income (loss) to net cash provided by
(used in) operating activities: |
|
|
|
(Gain) loss on derivative instruments |
|
160.6 |
|
|
|
(302.3 |
) |
OPEB curtailment gain, net |
|
— |
|
|
|
(8.0 |
) |
Lower of cost or NRV adjustment |
|
— |
|
|
|
46.5 |
|
Depreciation and amortization |
|
62.4 |
|
|
|
57.5 |
|
Loss on early extinguishment of debt |
|
24.7 |
|
|
|
— |
|
Deferred tax provision (benefit) |
|
(40.9 |
) |
|
|
52.3 |
|
Asset impairment charge |
|
— |
|
|
|
159.4 |
|
Other non-cash items - net |
|
2.6 |
|
|
|
(12.5 |
) |
Change in operating assets and liabilities: |
|
|
|
Accounts receivable - net |
|
(27.6 |
) |
|
|
8.5 |
|
Due from affiliates |
|
(1.7 |
) |
|
|
(5.6 |
) |
Inventories |
|
(52.2 |
) |
|
|
(4.1 |
) |
Prepaid and other current assets |
|
(4.8 |
) |
|
|
5.6 |
|
Accounts payable, trade |
|
46.7 |
|
|
|
(9.6 |
) |
Due to affiliates |
|
43.1 |
|
|
|
(34.0 |
) |
Accrued and other current liabilities |
|
3.5 |
|
|
|
12.5 |
|
Ravenswood retiree medical settlement |
|
(2.0 |
) |
|
|
(2.0 |
) |
Other - net |
|
1.0 |
|
|
|
(6.4 |
) |
Net cash provided by (used in)
operating activities |
|
(12.1 |
) |
|
|
57.2 |
|
CASH FLOWS FROM INVESTING
ACTIVITIES: |
|
|
|
Purchase of property, plant and equipment |
|
(45.7 |
) |
|
|
(70.2 |
) |
Proceeds from sale of property, plant and equipment |
|
0.0 |
|
|
|
0.1 |
|
Net cash used in investing
activities |
|
(45.7 |
) |
|
|
(70.1 |
) |
CASH FLOWS FROM FINANCING
ACTIVITIES: |
|
|
|
Repayment of Senior Notes due
2025 |
|
(250.0 |
) |
|
|
— |
|
Early redemption and tender premiums paid |
|
(18.1 |
) |
|
|
— |
|
Proceeds from issuance of Senior Notes due 2028 |
|
250.0 |
|
|
|
— |
|
Proceeds from issuance of Convertible Senior Notes |
|
86.3 |
|
|
|
— |
|
Repayments on Hawesville term loan |
|
(15.0 |
) |
|
|
— |
|
Borrowings under revolving credit facilities |
|
644.2 |
|
|
|
910.2 |
|
Repayments under revolving credit facilities |
|
(641.8 |
) |
|
|
(910.4 |
) |
Debt issuance costs |
|
(7.5 |
) |
|
|
(1.6 |
) |
Purchases of capped calls related to Convertible Senior Notes |
|
(5.7 |
) |
|
|
— |
|
Borrowings under Grundartangi casthouse debt facility |
|
— |
|
|
|
40.0 |
|
Net cash provided by financing
activities |
|
42.4 |
|
|
|
38.2 |
|
CHANGE IN CASH, CASH
EQUIVALENTS, AND RESTRICTED CASH |
|
(15.4 |
) |
|
|
25.3 |
|
Cash, cash equivalents and
restricted cash, beginning of period |
|
84.3 |
|
|
|
40.7 |
|
Cash, cash equivalents and
restricted cash, end of period |
$ |
68.9 |
|
|
$ |
66.0 |
|
|
|
|
|
Supplemental Cash Flow
Information: |
|
|
|
Cash paid for: |
|
|
|
Interest |
$ |
26.0 |
|
|
$ |
14.0 |
|
Taxes |
|
0.0 |
|
|
|
1.9 |
|
Non-cash investing
activities: |
|
|
|
Capital expenditures |
|
6.1 |
|
|
|
1.1 |
|
Capitalized Interest |
|
0.8 |
|
|
|
3.4 |
|
CENTURY ALUMINUM
COMPANYSELECTED OPERATING DATA(in
millions, except shipments)(Unaudited)
SHIPMENTS
- PRIMARY ALUMINUM(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
Iceland |
|
Total |
|
|
Tonnes |
|
Sales $ |
|
Tonnes |
|
Sales $ |
|
Tonnes |
|
Sales $ |
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
3rd Quarter |
|
95,502 |
|
$ |
320.3 |
|
78,223 |
|
$ |
283.7 |
|
173,725 |
|
$ |
604.0 |
2nd Quarter |
|
139,630 |
|
$ |
564.8 |
|
74,454 |
|
$ |
273.2 |
|
214,084 |
|
$ |
838.0 |
1st Quarter |
|
134,953 |
|
$ |
494.8 |
|
76,458 |
|
$ |
247.5 |
|
211,411 |
|
$ |
742.3 |
Notes:
(1) Excludes
scrap aluminum sales, purchased aluminum and alumina sales.
CENTURY ALUMINUM
COMPANYRECONCILIATION OF NON-GAAP FINANCIAL
MEASURES(in millions, except per share
amounts)(Unaudited)
|
|
Three months ended |
|
|
June 30, 2022 |
|
September 30, 2022 |
|
|
$MM |
|
EPS |
|
$MM |
|
EPS |
Net income (loss) as
reported(1) |
|
$ |
35.5 |
|
|
$ |
0.36 |
|
|
$ |
41.9 |
|
|
$ |
0.43 |
|
Lower of cost or NRV inventory adjustment, net of tax |
|
|
52.8 |
|
|
|
0.54 |
|
|
|
(6.3 |
) |
|
|
(0.06 |
) |
Unrealized (gain) loss on derivative contracts, net of tax |
|
|
(221.8 |
) |
|
|
(2.27 |
) |
|
|
(69.5 |
) |
|
|
(0.72 |
) |
Asset impairment |
|
|
159.4 |
|
|
|
1.63 |
|
|
|
— |
|
|
|
— |
|
Hawesville curtailment costs |
|
|
8.2 |
|
|
|
0.08 |
|
|
|
(3.6 |
) |
|
|
(0.03 |
) |
Share-based compensation |
|
|
(6.0 |
) |
|
|
(0.06 |
) |
|
|
0.6 |
|
|
|
0.01 |
|
Impact of preferred and convertible shares |
|
|
2.3 |
|
|
|
0.02 |
|
|
|
2.7 |
|
|
|
0.03 |
|
Adjusted net income
(loss) |
|
$ |
30.4 |
|
|
$ |
0.30 |
|
|
$ |
(34.2 |
) |
|
$ |
(0.34 |
) |
|
|
|
|
|
|
|
|
|
Notes: |
|
|
|
|
|
|
|
|
(1) In periods of
positive earnings, this represents earnings allocated to
participating dilutive shares. For the three months ended September
30, 2022, this includes earnings allocated to common stockholders,
an add-back of $0.7 million net interest expense related to the
convertible notes, and a reduction of $0.4 million in share-based
compensation related to the equity classified awards. For the three
months ended June 30, 2022, this includes earnings allocated to
common stockholders, an add-back of $0.7 million net interest
expense related to the convertible notes, and a reduction of $0.3
million in share-based compensation related to the equity
classified awards. |
|
|
Three months ended |
|
|
June 30, 2022 |
|
September 30, 2022 |
Net Income (loss) as reported |
|
$ |
37.4 |
|
|
$ |
44.3 |
|
Interest expense |
|
|
5.7 |
|
|
|
7.9 |
|
Interest income |
|
|
0.0 |
|
|
|
(0.1 |
) |
Net (gain) loss on forward and derivative contracts |
|
|
(231.8 |
) |
|
|
(112.6 |
) |
Other income - net |
|
|
(3.1 |
) |
|
|
(11.6 |
) |
Income tax expense |
|
|
42.3 |
|
|
|
20.6 |
|
Operating income
(loss) |
|
|
(149.5 |
) |
|
|
(51.5 |
) |
Lower of cost or NRV inventory adjustment |
|
|
52.8 |
|
|
|
(6.3 |
) |
Asset impairment |
|
|
159.4 |
|
|
|
— |
|
Hawesville curtailment costs |
|
|
8.2 |
|
|
|
4.5 |
|
Share-based compensation |
|
|
(6.3 |
) |
|
|
0.2 |
|
Depreciation and amortization |
|
|
22.0 |
|
|
|
17.2 |
|
Adjusted
EBITDA |
|
$ |
86.6 |
|
|
$ |
(35.9 |
) |
ContactPeter Trpkovski(Investors and
media)312-696-3132
Source: Century Aluminum Company
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