NASDAQ$CENX
Century Aluminum Company · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported a net loss due to net exceptional items, but adjusted net loss improved sequentially driven by higher prices of primary aluminum and increased regional premiums.
Century Aluminum Company reported a net loss of $(52.4) million for Q3 2021, which was negatively impacted by $46.7 million of net exceptional items. However, the adjusted net loss improved sequentially to $(5.7) million, driven by higher aluminum prices and increased regional premiums. Adjusted EBITDA for Q3 2021 was $70.3 million, an increase of $36.4 million from the prior quarter.
- Realized LME aluminum price of $2,375/T in third quarter is up $220/T from prior quarter
- Realized regional premiums of $670/T and $245/T for U.S. Midwest and EU Duty Paid, respectively, up $180/T and $70/T from prior quarter
- Inventories at post financial crisis lows
- Announced casthouse expansion project into low-carbon billet production for Grundartangi, Iceland smelter
Headline financials
Revenue & EPS history
Century Aluminum · Revenue · Quarterly
$581M
Forward guidance
Century expects its expansion projects at Hawesville and Mt. Holly to be substantially complete by year end and expects to continue to deliver strong results in the fourth quarter and beyond, despite inflationary pressure in key raw materials.
Tailwinds
- Expansion projects at Hawesville and Mt. Holly progressing on schedule
- Expects expansion projects to be substantially complete by year end
- Operations remain well positioned to continue to deliver strong results in the fourth quarter and beyond
- Commencement of construction of a new 150,000 tonne low-carbon billet casthouse at Grundartangi
- New casthouse will enable Grundartangi to cast over 80% of its production as value-added products
Headwinds
- Seeing inflationary pressure in many key raw materials
- Most significant inflationary pressure in energy and alumina
- Net loss of $(52.4) million for the third quarter of 2021
- Third quarter results were negatively impacted by $46.7 million of net exceptional items
- Unrealized losses on derivative instruments
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
-1.7%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+1.6%
Avg return
30 days after
42%
27 / 64 earnings
Positive
+22.2%
Q3 2024
Best reaction
-37.7%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.2% | +6.2% | -0.9% | |
| Q4 2025 | +0.2% | +1.0% | -6.7% | |
| Q3 2025 | +14.1% | +2.0% | +7.2% | |
| Q2 2025 | +1.5% | +5.2% | -2.4% | |
| Q1 2025 | -2.0% | +8.6% | +23.5% | |
| Q4 2024 | -13.3% | -3.2% | -3.6% | |
| Q3 2024 | +22.2% | +28.3% | +38.0% | |
| Q1 2024 | -6.2% | +0.3% | +5.6% | |
| Q4 2023 | +0.4% | -1.9% | +29.5% | |
| Q3 2023 | +1.8% | +3.4% | +21.4% | |
| Q2 2023 | -8.5% | -10.0% | -21.3% | |
| Q1 2023 | -5.9% | -11.5% | +4.8% | |
| Q4 2022 | +2.0% | +15.7% | -14.0% | |
| Q3 2022 | +8.2% | +30.2% | +10.9% | |
| Q2 2022 | +21.5% | +23.3% | -2.5% | |
| Q1 2022 | -14.4% | -22.4% | -37.2% | |
| Q4 2021 | +7.4% | +23.1% | +32.4% | |
| Q3 2021 | -1.3% | +4.8% | +0.1% | |
| Q2 2021 | -26.7% | -24.0% | -14.8% | |
| Q1 2021 | -10.7% | -5.5% | -24.6% | |
| Q4 2020 | +2.4% | +6.4% | +28.5% | |
| Q3 2020 | -2.4% | +7.4% | +54.3% | |
| Q2 2020 | +10.3% | +13.2% | +2.6% | |
| Q1 2020 | -2.8% | +5.3% | +27.4% | |
| Q4 2019 | +7.6% | +3.2% | -47.0% | |
| Q3 2019 | +14.1% | +20.2% | -0.6% | |
| Q2 2019 | -2.4% | -4.6% | -23.4% | |
| Q1 2019 | -7.6% | -2.3% | -32.0% | |
| Q4 2018 | +0.9% | +1.9% | -9.6% | |
| Q3 2018 | -14.1% | -12.9% | -2.0% | |
| Q2 2018 | +2.3% | -0.2% | -1.5% | |
| Q1 2018 | -10.4% | -6.6% | +7.5% | |
| Q4 2017 | -7.9% | -12.9% | -26.6% | |
| Q3 2017 | +0.4% | -7.4% | -9.7% | |
| Q2 2017 | -20.1% | -18.6% | +23.2% | |
| Q1 2017 | +17.3% | +8.0% | +17.4% | |
| Q4 2016 | -6.8% | -2.7% | -18.5% | |
| Q3 2016 | -3.5% | -5.4% | +37.3% | |
| Q2 2016 | +6.2% | -5.3% | -9.7% | |
| Q1 2016 | -4.2% | — | — | |
| Q4 2015 | +13.5% | — | — | |
| Q3 2015 | -12.6% | — | — | |
| Q2 2015 | -37.7% | — | — | |
| Q1 2015 | +11.4% | — | — | |
| Q4 2014 | -12.5% | — | — | |
| Q3 2014 | +3.4% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | -0.4% | — | — | |
| Q4 2013 | -1.5% | — | — | |
| Q3 2013 | +6.8% | — | — | |
| Q2 2013 | -14.9% | — | — | |
| Q1 2013 | -3.2% | — | — | |
| Q4 2012 | -4.9% | — | — | |
| Q3 2012 | +11.5% | — | — | |
| Q2 2012 | -7.7% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q3 2010 | -6.4% | — | — | |
| Q3 2011 | -6.4% | — | — | |
| Q2 2011 | +7.1% | — | — | |
| Q2 2010 | -5.1% | — | — | |
| Q1 2010 | -5.1% | — | — | |
| Q1 2011 | -5.1% | — | — | |
| Q4 2010 | -1.2% | — | — |
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