The 10-second takeaway
For the quarter ended March 31 (Q1), Century Aluminum beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Century Aluminum reported revenue of $326.2 million. The six analysts polled by S&P Capital IQ predicted sales of $317.1 million on the same basis. GAAP reported sales were 0.0% lower than the prior-year quarter's $326.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.04. The eight earnings estimates compiled by S&P Capital IQ predicted -$0.22 per share. GAAP EPS were -$0.04 for Q1 versus $0.25 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 6.5%, 650 basis points worse than the prior-year quarter. Operating margin was 2.8%, 870 basis points worse than the prior-year quarter. Net margin was -1.2%, 890 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $340.2 million. On the bottom line, the average EPS estimate is -$0.06.
Next year's average estimate for revenue is $1.39 billion. The average EPS estimate is $0.02.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 448 members out of 504 rating the stock outperform, and 56 members rating it underperform. Among 139 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 128 give Century Aluminum a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Century Aluminum is hold, with an average price target of $12.00.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.