Century Aluminum Earnings: Here’s Why Investors are Happy Now
Century Aluminum Co. (NASDAQ:CENX) delivered a profit 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 1.75%.
Century Aluminum Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $-0.18 in the year-earlier quarter.
Revenue: Decreased 1.51% to $321.27 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Century Aluminum Co. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It missed the average revenue estimate of $326.46 million.
Quoting Management: “Market volatility has increased due to a number of factors,” commented Michael Bless, President and Chief Executive Officer. “Economic data from China have been mixed, with underlying industrial and consumer activity growing at a reasonable, but slower pace. Growth in other developing economies has also slowed and conditions in the Eurozone remain difficult. In the U.S., end markets remain generally strong. Overall, we continue to expect medium and longer-term global trends to be favorable, and are thus executing our strategic plans. We are, however, working to preserve considerable flexibility in the present uncertain environment.”
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