Century Aluminum Co (NASDAQ:CENX) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET
Company Participants
Peter Trpkovski - VP, Finance & IR
Jesse Gary - President, CEO & Director
Michelle Harrison - Interim Principal Financial Officer, SVP of Finance & Treasurer
Shelly Lair - IR
Conference Call Participants
David Gagliano - BMO Capital Markets
Lucas Pipes - B. Riley Securities
John Tumazos - John Tumazos Very Independent Research
Timna Tanners - Wolfe Research
Operator
Good afternoon. My name is Samantha, and I will be your conference operator today. At this time, I would like to welcome everyone to the Century Aluminum Company Second Quarter 2022 Earnings Conference Call. Today's conference is being recorded. [Operator Instructions]. Thank you. I would now like to turn the call over to your host, Peter Trpkovski. Sir, you may begin your conference.
Peter Trpkovski
Thank you, Samantha. Good afternoon, everyone, and welcome to the conference call. I'm joined here today by Jesse Gary, Century's President and Chief Executive Officer; and Shelly Harrison, Senior Vice President of Finance and Treasurer. After our prepared comments, we'll gladly take your questions.
As a reminder, today's presentation is available on our website at www.centuryaluminum.com. We use our website as a means of disclosing material information about the company and for complying with Regulation FD.
Turning to Slide 1 of today's presentation. Please take a moment to review the cautionary statement shown here with respect to forward-looking statements and non-GAAP financial measures contained in today's discussion.
And I will now turn the call over to Jesse.
Jesse Gary
Thank you, Pete, and thanks to everyone for joining. I'd like to start today by following up on our announcement from last Monday and welcoming Jerry Bialek to Century as our new Chief Financial Officer. Jerry was most recently CFO at Cooper Tire, and before that, had an excellent career with Ford and Amcor. Jerry will officially join us later this month, and you can all expect to hear from him directly on our Q3 earnings call. He will be a great addition to the team.
Okay. Turning to Page 3. I'll start by talking about the current macro environment and our operations, and then Shelly will take you through our Q2 results and Q3 outlook before I wrap up.
The second quarter proved to be quite dynamic with market conditions changing significantly over the course of the quarter. Second quarter adjusted EBITDA was $87 million with net sales and shipments up 14% and 1%, respectively. LME pricing averaged $2,900 in Q2 versus spot prices of around $2,500.