Century Aluminum Posted Robust Q3 2024 Results

In the meantime, net sales for the quarter came in at $539.1 million, down $21.7 million from the previous quarter.

SEATTLE (Scrap Monster): Century Aluminum Company announced its third quarter 2024 results.

For the third quarter of 2024, the company recorded net income attributable to shareholders of $47.3 million, indicating a $49.8 million sequential improvement. This year's third quarter adjusted net income was $60.0 million, up $59.3 million from the previous quarter. According to a corporate news release, the adjusted EBITDA attributable to Century stockholders increased by $69.5 million from the previous quarter to $103.7 million in the third quarter of 2024.

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In the meantime, net sales for the quarter came in at $539.1 million, down $21.7 million from the previous quarter. Regional and value-added product premiums, along with higher LME pricing, counterbalanced the decline in third-party alumina sales. As of September 30, 2024, Century had $278.9 million in liquidity.

The company expects its Q4 2024 adjusted EBITDA to range between $70 and $80 million.

Century Aluminum's president and CEO, Jesse Gary, stated that a number of favorable variables, such as robust worldwide demand, ongoing supply-side difficulties, and encouraging Chinese macroeconomic policies, contributed to the increase in aluminum and alumina prices during the third quarter.

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