Century Aluminum Company reported a net sales increase of 4% sequentially, reaching $575.5 million in Q2 2023, driven by higher realized aluminum prices. The company achieved a net income attributable to Century stockholders of $7.5 million, a significant improvement from the previous quarter's net loss. Adjusted EBITDA attributable to Century stockholders was $29.5 million, reflecting lower energy costs offset by unfavorable sales mix and operational spend.
Net sales reached $575.5 million.
Realized LME aluminum price increased to $2,371/T in Q2, up $21/T from the prior quarter.
Input costs decreased, primarily due to reduced pricing in key energy markets.
Strong total liquidity of $231.1 million was maintained as of June 30, 2023.
The company expects third quarter Adjusted EBITDA to range between $10 to $20 million based on decreased LME prices and VAP sales, partially offset by improved volume and lower raw material prices and operating costs.
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