Century Aluminum reports financial results for Q2 2024
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Update time : 2024-08-13 13:51:09
US-based Century Aluminum Company posted its net sales of US$560.8 million for the second quarter of this year, increased by US$71.3 million from the previous quarter due to the increased LME aluminum price, as well as regional and value-added product premiums.
During the period, the company’s net loss attributable to its stockholders was US$2.5 million, down by US$249.3 million quarter on quarter. The decrease was due to the recognition of the bargain purchase gain from the Jamalco acquisition of US$245.9 million in the first quarter of the year.
The adjusted EBITDA attributable to stockholders in the given period was US$34.2 million, US$9.2 million higher than the figure in the previous quarter, mainly driven by favorable realized LME and regional price premiums, partially offset by lower volume and deferred first-quarter maintenance expenses.
Century President and CEO Jesse Gary said that strong operating results drove improved second-quarter financial results and let the company benefit from higher aluminum prices in the third quarter and beyond.
