Century Aluminum Co. Earnings: Here’s Why the Stock is Rising Now

Century Aluminum Co. (NASDAQ:CENX) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.2%.

Century Aluminum Co. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.08 in the quarter versus EPS of $-0.31 in the year-earlier quarter.

Revenue: Decreased 0.14% to $317.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Century Aluminum Co. reported adjusted EPS loss of $0.08 per share. By that measure, the company beat the mean analyst estimate of $-0.14. It missed the average revenue estimate of $318.2 million.

Quoting Management: “We are witnessing a modest improvement in general market conditions,” commented Michael Bless, President and Chief Executive Officer. “The pace of economic activity in China appears to have at least stabilized, with signs of accelerating growth becoming more evident. Though industrial activity in the Euro zone remains depressed, the risk of a sovereign or banking crisis has eased. In the U.S., our key markets remain generally strong, with encouraging conditions in important sectors such as transportation. In this global context, the aluminum price has traded with less volatility in a relatively narrow band and regional premiums, based upon a number of factors, remain robust. Despite this reasonably benign environment, we remain watchful over potential disruptions which could be caused by political processes in the U.S. and in Europe, and continue to manage the Company with appropriate caution.”

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