Aleris Reports Second Quarter 2014 Results
Aleris Corporation reported results for the three and six months ended June 30, 2014.
Second Quarter Summary
Adjusted EBITDA of $65 million; Net loss of $17 million Sequential Adjusted EBITDA improvement but disappointing year-over-year performance Significantly higher automotive volumes Global aerospace volumes and price negatively impacted by customer destocking Operational issues limited shipments and increased costs in rolled products North American rolled products margins down due to product mix and competitive imports Nichols acquisition integration efforts progressing; raising synergy capture target Improvement in Specification Alloy metal spreads and overall Recycling business profitability Liquidity of $431 million as of June 30, 2014
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