ewsba.se
(RTTNews) - Century Aluminum Company (CENX) reported significantly higher first-quarter profit, mainly driven by a gain on the sale of its Hawesville site.
Net income attributable to Century rose to $337.5 million or $3.23 per share from $29.7 million or $0.29 per share a year earlier.
The company recorded a gain of $287.9 million from the sale of the Hawesville site. Excluding one-time items, earnings were $170.7 million or $1.63 per share.
Adjusted EBITDA attributable to Century was $231.4 million, up from $78 million last year.
Net sales increased to $649.2million from $633.9 million in the previous year.
Aluminium shipments, however, dropped to 122.865 tonnes from 168,672 tonnes last year.
Looking ahead, the company expects second-quarter adjusted EBITDA to range between $315 million and $335 million.
Century Aluminum shares rose more than 2% in after-hours trading after closing at $60.58 on Thursday.
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