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AI brief of an SEC Form 8-K · Century Aluminum (CENX)

Century Aluminum Q1 adjusted loss of $3.0 million; GAAP profit $246.8 million

Mixed Impact 3 of 5 earnings Written later

Century Aluminum reported first quarter 2024 net sales of $489.5 million, down from $512.3 million in the fourth quarter of 2023, and adjusted EBITDA of $25.0 million, down from $57.1 million. Reported net income of $246.8 million was driven by a $245.9 million bargain purchase gain from the Jamalco acquisition, while the company reported an adjusted net loss of $3.0 million, so shareholders face weaker operating results behind a large one-time accounting gain. The company guided second quarter adjusted EBITDA to $25 million to $35 million.

Key points

  • Net sales of $489.5 million, down from $512.3 million in Q4 2023 and $552.4 million in Q1 2023
  • Adjusted EBITDA attributable to Century stockholders of $25.0 million versus $57.1 million in Q4 2023, reflecting only one quarter of the IRA Section 45X credit
  • Net income attributable to Century stockholders of $246.8 million included a $245.9 million bargain purchase gain; adjusted net loss was $3.0 million
  • Second quarter 2024 adjusted EBITDA expected between $25 million and $35 million; webcast call on May 1, 2024 at 11:00 a.m. Eastern

The filing

CompanyCentury Aluminum (CENX)
Form8-K, current report
Filed with the SECMay 1, 2024, 8:00 AM ET
Accession number0000949157-24-000045

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.