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Last $13.50 USD
Change Today -0.03 / -0.22%
Volume 386.7K
CENX On Other Exchanges
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As of 11:31 AM 04/21/15 All times are local (Market data is delayed by at least 15 minutes).

century aluminum company (CENX) Key Developments

Century Aluminum Company Appoints Stephen K. Heyroth as Vice President, Controller and Chief Accounting Officer

On March 31, 2015, Century Aluminum Company announced the appointment of Stephen K. Heyroth as Vice President, Controller and Chief Accounting Officer of the Company. Mr. Heyroth will be the company's principal accounting officer. Prior to joining the Company, Mr. Heyroth served as Controller for Surface Mining Manufacturing Operations at Joy Global Inc. Prior to that position, Mr. Heyroth served as General Auditor at Joy Global from November 2009 to May 2012. Prior to that position, Mr. Heyroth worked at KPMG, Deloitte & Touche and Arthur Andersen.

Century Aluminum Co. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year of 2015

Century Aluminum Co. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales of $551,239,000 compared to $401,174,000 a year ago. Operating income was $66,851,000 compared to operating loss of $8,631,000 a year ago. Income before equity in earnings of joint ventures was $61,205,000 compared to loss before equity in earnings of joint ventures of $10,219,000 a year ago. Net income allocated to common stockholders was $56,824,000 or $0.63 per diluted share compared to net loss allocated to common stockholders of $9,675,000 or $0.11 per diluted share a year ago. Income before income taxes and equity in earnings of joint ventures was $72,509,000 compared to loss before income taxes and equity in earnings of joint ventures of $11,802,000 a year ago. Results were positively impacted by $6.9 million or $0.07 per common share for purchase accounting related to the acquisition of the remaining 50.3% interest of Mt. Holly and negatively impacted by $5.0 million or $0.05 per common share in non-cash, non-recurring pension charges and by $2.6 million or $0.03 per common share related to the separation of former senior executives. The company spent a total of $17 million for CapEx. In addition to normal maintenance CapEx, the company spent $9 million on investment projects. For the year, the company reported net sales of $1,931,042,000 compared to $1,454,313,000 a year ago. Operating income was $140,780,000 compared to operating loss of $36,556,000 a year ago. Income before equity in earnings of joint ventures was $111,189,000 compared to loss before equity in earnings of joint ventures of $42,975,000 a year ago. Net income allocated to common stockholders was $103,283,000 or $1.15 per diluted share compared to net loss allocated to common stockholders of $40,313,000 or $0.45 per diluted share a year ago. Income before income taxes and equity in earnings of joint ventures was $129,497,000 compared to loss before income taxes and equity in earnings of joint ventures of $39,844,000 a year ago. Net cash provided by operating activities was $196,411,000 compared to operating loss of $19,718,000 a year ago. Purchase of property, plant and equipment was $41,559,000 compared to operating loss of $46,533,000 a year ago. Nordural expansion Helguvik was $337,000 compared to operating loss of $3,331,000 a year ago. Purchase of carbon anode assets and improvements was $13,230,000 compared to operating loss of $18,213,000 a year ago. Purchase of Sebree smelter was $1,042,000 compared to operating loss of $48,058,000 a year ago. Results were positively impacted by a $31.0 million benefit for deferred power contract liability amortization, $2.2 million in litigation items and an unrealized gain of $16.8 million, primarily related to an LME-based contingent obligation. The company now expects maintenance CapEx to be $20 million to $25 million annually. In addition, it expects to spend $10 million in 2015 on the Grundartangi expansion and $15 million on the restart of the second anode press at Vlissingen. The company has another $35 million to $40 million it expects to spend on mostly high returns, fixed paycheck -- fixed payback projects in the US.

Century Aluminum Company Announces Executive Changes

Century Aluminum Company announced that Rick Dillon, the company's executive vice president and chief financial officer, will take a temporary medical leave of absence. Mr. Dillon is expected to return by the end of the first quarter. In the interim, Mr. Dillon's duties and responsibilities will be assumed by Michael Bless, the company's president and chief executive officer.

Century Aluminum Co. to Report Q4, 2014 Results on Feb 24, 2015

Century Aluminum Co. announced that they will report Q4, 2014 results at 5:00 PM, US Eastern Standard Time on Feb 24, 2015

Century Aluminum Co., Q4 2014 Earnings Call, Feb 24, 2015

Century Aluminum Co., Q4 2014 Earnings Call, Feb 24, 2015

 

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