Century Aluminum reported adjusted EBITDA of $74 million in Q2 2025, a $4 million decrease from Q1, driven by a $247 per tonne increase in U.S. Midwest premiums offset by lower LME and European premiums.
Century completed refinancing $250 million of 7.5% senior secured notes with $400 million of 6.875% notes, lowering interest costs and extending maturity to 2032.
Liquidity improved to $363 million with a cash balance of $41 million; net debt remained flat at $446 million.
Net sales were $628 million, down $6 million primarily due to lower third-party alumina sales, partially offset by higher shipments and metal pricing.
The company reported a net loss of $5 million or $0.05 per share, but adjusted net income was $30 million or $0.30 per share excluding exceptional items.
A. O. Smith reported second quarter 2025 sales of $1 billion, a 1% decrease year-over-year, with earnings per share of $1.07, a 1% increase compared to the prior period.
China sales declined 11% in local currency due to economic challenges and limited government subsidies, but operating margin was maintained through restructuring and cost controls.
North America segment sales decreased 1% to $779 million, driven by lower water heater volumes but offset by higher boiler sales; segment operating margin expanded by 30 basis points to 25.4%.
Operating cash flow for the first half of 2025 was $178 million, with free cash flow of $140 million, both higher than the prior year period.
Rest of the World segment sales decreased 2% to $240 million, including $16 million from the Pureit acquisition; earnings remained flat at $25 million with a slight margin decline to 10.5%.
Share repurchases totaled approximately 3.8 million shares for $251 million in the first half of 2025, with full-year repurchase plans increased to approximately $400 million.
The company ended June with $178 million in cash and a net debt position of $126 million, with a leverage ratio of 14.1%.
Dafinchi