CENX
Century Aluminum Company32.22
+0.83+2.64%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Oklahoma milestones, cap alloc details
Q&A shed light on Oklahoma smelter progress, confirming power contract talks with PSO amid state support and Bechtel engineering toward Q4 FID, plus government financing beyond DOE grant. Management listed milestones but hedged on energy pricing, insisting it must enable required returns. Strong cash flows from operations suffice for smelter funding, prioritizing organic CapEx like Mt. Holly, then M&A and shareholder returns. Iceland's Line 1 runs at one-third capacity until Line 2 restarts end-April. Sensitivities imply $75M Q1 EBITDA uplift to spot prices. Bullish tone persists. Cash flows cover smelter needs.
Key Stats
Market Cap
3.01BP/E (TTM)
38.36Basic EPS (TTM)
0.84Dividend Yield
0%Recent Filings
10-K
FY2025 results
Century Aluminum produced 638,000 tonnes of primary aluminum in FY2025 ended December 31, 2025, against 770,000 tpy capacity, with shipments down to 647,112 tonnes from 677,967 in 2024 amid Grundartangi's Q4 equipment failure slashing output by two-thirds. Net sales climbed to $2.53B from $2.22B on soaring LME ($2,630/tonne avg) and MWP ($1,295/tonne avg) premiums, driving gross profit to $256M despite higher power and raw material costs; Q4 momentum faltered on the outage, yet Section 45X credits offset $93M in expenses. Debt stood at $548M year-end including $400M new 2032 Notes, with $418M liquidity and $100M capex mainly for Mt. Holly restart. Hawesville sold post-year-end for $200M cash plus equity. Jamalco material weakness risks quarterly reporting accuracy.
8-K
Restates Jamalco accounting
Century Aluminum will restate financials for 2023-2025 after SEC pushback on proportionate consolidation of Jamalco assets, switching to full consolidation effective March 2, 2026. This boosts total assets to $2.1B (2024) and equity to $805M, yet trims gross profit by $13M while leaving net income to stockholders unchanged. Restatements incoming; material weakness flagged.
8-K
Q4 adj. EBITDA $171M
Century Aluminum posted Q4 net sales of $633.7M and full-year $2.5B, with adjusted EBITDA surging to $170.6M and $425.1M—up sharply from prior periods on higher prices. Shipments fell 14% sequentially to 140,257 tonnes due to Iceland equipment failure, yet adjusted net income hit $128.2M. Growth accelerates: EGA smelter deal, Hawesville sale, Mt. Holly restart by Q2 2026 end. Q1 adjusted EBITDA guides $215-235M despite energy costs.
8-K
Sold Hawesville site for $200M + equity
Century Aluminum's subsidiary sold its 750-acre Hawesville, KY property to Justified DataPower on February 2, 2026, for $200M cash plus a 6.8% non-dilutive minority stake in Raylan Data, earmarked for an AI data center. No capital obligations for Century. Redevelopment promises jobs and economic boost.
8-K
Q3 profit, EBITDA surge
Century Aluminum swung to net income of $14.9 million in Q3 2025 from a $4.6 million loss prior quarter, fueled by $632.2 million net sales and $101.1 million adjusted EBITDA. Midwest premium soared $575/MT to $1,425/MT, while Mt. Holly power deal through 2031 paves way for restart. Q4 adjusted EBITDA eyes $170-180 million. Liquidity hit $488.2 million.
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