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Jun 30, 2021
Century Aluminum Q2 2021 Earnings Report
Announced second quarter 2021 results, showing improved financial performance driven by higher aluminum prices and regional premiums.
Key Takeaways
Century Aluminum Company reported a net loss of $35.1 million for Q2 2021, an improvement of $104.9 million sequentially. Adjusted EBITDA increased by $54.1 million from the prior quarter to $34.4 million, driven by higher aluminum prices and increased regional premiums.
Realized LME aluminum price of $2,155/T in second quarter, up $215/T from prior quarter.
Realized regional premiums of $490/T and $175/T for U.S. Midwest and EU Duty Paid, respectively, up $160/T and $35/T from prior quarter.
Refinanced Senior Notes, extending maturity to 2028, and added Convertible Notes also due 2028.
Signed three-year Iceland power contract extension, securing 100% renewable energy for Grundartangi through 2026.
Revenue by Geographic Location
Forward Guidance
The company remains focused on bringing additional production online through expansion projects at Mt. Holly and Hawesville, expecting completion by year end.
Positive Outlook
- Bring additional production online through expansion project at Mt. Holly
- Return to targeted production levels at Hawesville
- Both projects expected to be completed by year end
- Will provide much needed additional units to the marketplace
- Provide additional LME and regional premium pricing exposure
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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