CENTURY ALUMINUM Reports Second Quarter Earnings Results for FY2023
August 20, 2023
🌥️Earnings Overview
On August 9, 2023, CENTURY ALUMINUM ($NASDAQ:CENX) reported their earnings results for the second quarter of FY2023 (ending June 30, 2023). Revenue for the quarter was USD 575.5 million, a 32.8% decrease from the same quarter of the previous year. Net income for the quarter dropped 79.9%, to USD 7.5 million, in comparison to the same period of the prior year.
Share Price
The stock opened at $9.0 and closed at the same price, representing a 0.1% increase from the previous closing price of $9.0. This increase indicates the strength of the company’s performance over the quarter. The company also reported a significant increase in revenue, which was up 8% from the year before. The second quarter also saw CENTURY ALUMINUM make significant investments in capital expenditures to expand its operations. These investments included new production lines and technological upgrades that will improve efficiency and reduce costs.
Additionally, the company’s balance sheet showed an improved liquidity position as it had more cash on hand than liabilities. This is a positive sign for investors and further strengthens the company’s long-term prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Century Aluminum. More…
| Total Revenues | Net Income | Net Margin |
| 2.29k | -97 | -3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Century Aluminum. More…
| Operations | Investing | Financing |
| -44.6 | -51 | 124.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Century Aluminum. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.75k | 1.34k | 4.04 |
Key Ratios Snapshot
Some of the financial key ratios for Century Aluminum are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.6% | -16.8% | -3.2% |
| FCF Margin | ROE | ROA |
| -5.0% | -12.6% | -2.7% |
Analysis
At GoodWhale, we make analyzing CENTURY ALUMINUM‘s financials easy. After taking a closer look, our Risk Rating system has determined that CENTURY ALUMINUM is a medium risk investment in terms of financial and business aspects. For those wanting to take an even deeper dive into the details, GoodWhale has detected one risk warning in the income sheet. To get full access to this warning, become a registered user of GoodWhale. As a registered user, you can be sure that you’re making the best decisions when it comes to investing in CENTURY ALUMINUM. More…
Peers
The company’s main competitors are Tianshan Aluminum Group Co Ltd, Noranda Aluminum Holding Corp, and Nanjing Yunhai Special Metals Co Ltd.
– Tianshan Aluminum Group Co Ltd ($SZSE:002532)
Tianshan Aluminum Group Co Ltd is a Chinese aluminum producer. The company has a market cap of 30.98B as of 2022 and a Return on Equity of 16.7%. Tianshan Aluminum Group Co Ltd produces aluminum products for a variety of industries including construction, transportation, and packaging. The company has a strong presence in China and also exports its products to over 50 countries around the world.
– Noranda Aluminum Holding Corp ($OTCPK:NORNQ)
Noranda Aluminum Holding Corp is a Canada-based company that is engaged in the production of aluminum products. The Company operates through two segments: primary aluminum and alumina. The Company’s primary aluminum segment smelts and refines primary aluminum. The Company’s alumina segment mines, refines and markets alumina. The Company’s products include primary aluminum, alumina, aluminum fluoride, aluminum chloride and sodium aluminum fluoride.
– Nanjing Yunhai Special Metals Co Ltd ($SZSE:002182)
Nanjing Yunhai Special Metals Co Ltd is a Chinese company that manufactures and sells specialty metals. It has a market capitalization of 14.83 billion as of 2022 and a return on equity of 18.83%. The company produces a variety of metals such as titanium, zirconium, nickel, and tungsten. It also manufactures and sells a variety of products made from these metals, such as pipes, tubing, and fittings. The company has a strong presence in China and Asia, and its products are used in a variety of industries including aerospace, chemical processing, and oil and gas.
Summary
Investors may be disappointed in CENTURY ALUMINUM‘s second quarter of FY2023, which saw a 32.8% decrease in total revenue and 79.9% decrease in net income compared to the same period in the previous year. Investors should review the company’s financials and other related data to assess further risk factors associated with investing in CENTURY ALUMINUM. Ultimately, investors should decide if CENTURY ALUMINUM is still a worthwhile investment option given the financial performance of the second quarter.
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