Century Aluminum Swings To Q3 Profit

(RTTNews) - Century Aluminum Co. (CENX) Wednesday reported a swing to profit for the third quarter, as revenues increased on higher aluminum prices and lower power prices in the Midwestern U.S.

Chicago, Illinois-based Century Aluminum reported third-quarter profit of $50.4 million or $0.52 per share, compared with a net loss of $9.5 million or $0.11 per share last year. On average, eight analysts polled by Thomson Reuters estimated earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude one-time items.

Sales for the third quarter rose to $500.6 million from $399.9 million a year ago. Analysts had a consensus revenue estimate of $488.6 million for the quarter.

Shipments of primary aluminum for the quarter rose to 218,214 tonnes from 212,797 tonnes shipped a year ago.