Century Aluminum Q1 Profit Surges On Hawesville Sale Gain
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Century Aluminum Company (CENX) reported a significant increase in Q1 profit, primarily due to a $287.9 million gain from the sale of its Hawesville site. Net income rose to $337.5 million ($3.23 per share) from $29.7 million ($0.29 per share) a year earlier. Adjusted EBITDA was $231.4 million, up from $78 million, while net sales increased to $649.2 million. However, aluminum shipments fell to 122,865 tonnes. The company anticipates Q2 adjusted EBITDA between $315 million and $335 million. Shares rose over 2% in after-hours trading.
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