Noranda Aluminum (NOR) Tops Q4 EPS by 5c

Noranda Aluminum (NYSE: NOR) reported Q4 EPS of $0.14, $0.05 better than the analyst estimate of $0.09. Revenue for the quarter came in at $336.2 million versus the consensus estimate of $343.8 million.

"Our fourth quarter 2014 performance reflects a sequential and year-over-year improvement in our operating results," said Layle K. Smith, Noranda's President and Chief Executive Officer. "We achieved this improvement despite the negative impact of an unusually high concentration of reduction cell failures which began in mid-third quarter 2014 at our New Madrid smelter. We expect the smelter to be back to full production by the end of March 2015, and that facility is currently running at nearly 95% of capacity."

"In addition to working aggressively to return the smelter to full production, we have taken actions to improve our cash flow generation while making necessary investments in the business. We have substantially completed an important phase of expanding our port in Jamaica. We continue to improve the reliability of our operations by strengthening the technical and process talent of our workforce. We are collaborating with our power provider and consumer groups to develop a global settlement that would include a reduction of the electricity rate at New Madrid. With our progress in returning the smelter to full production, the investments we are making in the business, and our expectations for what we will accomplish, we are positioned to build shareholder value by improving our profitability and generating positive cash flow in 2015."

For earnings history and earnings-related data on Noranda Aluminum (NOR) click here.

You May Also Be Interested In

• Citi cuts Micron stock target, sees memory chip prices peaking in 2Q27
• Energy Vault signs 1.25 GW power deal for AI data center in Texas
• Soligenix, Inc. (SNGX) Tops Q2 EPS by 8c