Century Aluminum

Century brought in 961 million dollars in sales this quarter, up 209 million dollars from the prior three months. Profit climbed to 303 million dollars, or 2 dollars and 89 cents per share, up from 2 dollars and 39 cents. Shipping more metal at better prices is a powerful combination.

Their second production line in Iceland got back to nearly full output, which pushed shipments up about a third to 173,483 metric tons from 130,632. Cash on hand jumped to 713 million dollars, up from 134 million at the start of the year. That money matters because Century is planning a brand new American smelter as the country tries to make more of its own metal.

Century expects next quarter's core earnings to land between 275 and 300 million dollars, down from about 332 million this quarter. Extreme summer heat already drove up electricity bills, and smelters use huge amounts of power. This is still a commodity business, so if aluminum prices fall or tariffs get rolled back, profits can shrink fast.

Equipment failures in Iceland cost another 15 million dollars after taxes this quarter, and Century is still relying on insurance checks to cover the damage. Nearly 35 million dollars of this quarter's profit came from paper gains on financial contracts, not from selling metal. The Jamaica refinery is also still getting back to normal after Hurricane Melissa.