Century Aluminum’s Earnings Miss Estimates (CENX)

Century Aluminum Co.

reports Q2 earnings of $0.05 versus estimates of $0.25. Century Aluminum Co. reports Q2 revenues of $287.9 million versus estimates of $292.03 million. Q2 sales increased 52.2% year over year. Cash provided by operating activities was $50.5 million for the quarter; cash and cash equivalents increased to $256.3 million as of June 30, 2010. Logan Kruger, President and CEO, commented, "The market trends we have monitored since the beginning of the year have continued largely unchanged. Despite some signs of moderation recently, economic growth in China and other developing regions has continued largely apace, and the physical availability of metal remains constrained in most regions.” He added, “At the same time, we are closely watching the global financial and capital markets and assessing the risk that recent dislocations could dampen the economic recovery. Within this complex framework, we are managing the company, both existing operations and our growth projects, with reasonable caution. Shares of CENX are trading lower in the after-hours.