Dahlman Rose Previews Earnings for Century Aluminum

Dahlman Rose has published a report on Century Aluminum Co CENX previewing 2Q11 earnings. In the report, Dahlman Rose wrote, "The updated EPS guidance of $0.23 to $0.25 per share is inclusive of the Hawesville restart costs, charges related to Board of Directors and executive management contracts ($7.7 million), a non-cash charge related to insurance receivable ($2.9 million), and non-cash charges related to losses on forward contracts ($2.4 million). These charges are partially offset by $8.9 million plus a $2.1 million tax benefit related to changes to the Century of West Virginia retiree medical benefits program. The company will release its official results and provide a more detailed production update on August 4th. We expect the shares to react negatively to this news, and we maintain our Hold rating." Dahlman Rose rated Century Aluminum a Hold with no price target. Century Aluminum closed Monday at $14.27.