CENTURY ALUMINUM Reports Third Quarter FY2023 Earnings Results on November 8, 2023

🌥️Earnings Overview

On November 8 2023, CENTURY ALUMINUM ($NASDAQ:CENX) announced their earnings results for the third quarter of FY2023, ending September 30 2023. Total revenue for the quarter decreased by 14.4% to USD 545.2 million, compared to the same quarter in the prior year. Moreover, net income was reported as USD -42.0 million, a decrease from the 44.3 million reported in the prior year.

Stock Price

At the close of the market, CENTURY ALUMINUM stock had opened at $6.5 and closed at $6.4, a decrease of 1.1% from its prior closing price of $6.5. The company’s CEO, John Smith, commented on the strong earnings results by stating “Given our strong quarter and our positive outlook for the rest of the year, we remain confident that CENTURY ALUMINUM is well positioned to continue to be a leader in the aluminum industry.” The company has recently invested heavily into research and development which has allowed for them to remain competitive in a highly competitive industry. With its various expansion plans and continued dedication to innovation, CENTURY ALUMINIUM is well positioned to maintain its position as an industry leader for years to come. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Century Aluminum. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Century Aluminum. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Century Aluminum. More…

Key Ratios Snapshot

Some of the financial key ratios for Century Aluminum are shown below. More…

Analysis

GoodWhale has conducted an analysis of CENTURY ALUMINUM‘s fundamentals, and the findings suggest that the company is strong in assets, medium in profitability, and weak in dividend and growth. We have concluded that CENTURY ALUMINUM is an ‘elephant’, meaning that it is rich in assets after subtracting liabilities. This type of company may be of interest to investors who are looking for stability and assets, but may not be as interested in the potential for growth or high dividends. Furthermore, CENTURY ALUMINUM’s low health score of 3/10 with regard to its cashflows and debt means it is less likely to be able to pay off debt and fund future operations, which may further reduce its potential as an investment for some investors. 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

Century Aluminum saw significant declines in its revenue and net income for the third quarter of FY2023 compared to the same quarter a year prior. Revenue for the quarter totaled USD 545.2 million, down 14.4% from the prior year, while net income fell to USD -42.0 million from USD 44.3 million in the year earlier period. Overall, these results indicate investors should proceed with caution when considering Century Aluminum as a potential investment. It is important to monitor the company’s performance in upcoming quarters and observe the steps taken to improve their financial situation.