📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Century Aluminum Company, together with its subsidiaries, produces primary aluminum and alumina in the United States and Iceland.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding CENX

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	569.5K	$33.4M	0.04%	Mar 2026
Jim Simons Renaissance Technologies LLC	139.5K	$8.2M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly thanked President Trump and emphasized the Section 232 tariffs as transformative, used phrases like 'excellent market environment', 'very exciting announcement', 'strong demand', and 'monumental change'. They provided specific figures and detailed outlook for Q3 and Q4, including quantifiable EBITDA drivers.

Q3 2025

Confident Specific

Management uses precise numerical guidance (Q4 EBITDA $170-180M, $25M/quarter Mount Holly EBITDA), detailed premium and LME walk-ups, and explicit forward-looking statements like 'we expect that we will see an approximately $0.05 year-over-year increase across our 2026 bill of sales.' Setbacks (Grundartangi outage, Mount Holly instability) are acknowledged but immediately reframed as manageable with insurance and resolved issues.

Q4 2025

Confident Specific

Management repeatedly used precise numbers and timelines (e.g., 630,000 tons FY shipments, $215-235M Q1 EBITDA, 90 pots at Mt. Holly restart in April-June, Grundartangi line two restart at end of April), and described market deficits and rising premiums with specific dollar amounts. Language is assertive: 'no one is investing more', 'we are laser-focused on execution'.

Q1 2026 latest

Confident Specific

Management used phrases like 'excellent progress,' 'strong operating performance,' 'knocked it out of the park,' and 'full go' regarding projects. They provided specific numbers and guidance for Q2, showing conviction in their position and outlook.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Management delivered on key operational milestones (Mount Holly and Grundartangi restarts on track) while achieving net debt below the $300 million target. The favorable pricing environment (LME, Midwest premium, European premium) and a widening global supply deficit support near-term cash generation. The potential for significant free cash flow in H2 2026 (as insurance lag and 45X receivable resolve, plus full volume from expansions) could enable either organic investments in Oklahoma or capital returns. Key items to watch next quarter: (1) execution of Mount Holly ramp to full run-rate by Q3, (2) timing of insurance proceeds and 45X tax credit receipt, (3) any progress on Oklahoma FID or financing, and (4) the extent of working capital release as pricing normalizes. The main risk remains the final investment decision on Oklahoma and the associated capital structure, which management has not yet detailed.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Century Aluminum Q1 2026: Net income $338M, expanding Mount Holly, restarting Iceland, planning Oklahoma smelter

Revenue & Profitability

For Q1 2026, Century reported net sales of $649 million, net income of $338 million ($3.23 per share), and adjusted net income of $171 million ($1.63 per share). Adjusted EBITDA was $231 million, up $60 million sequentially, driven by higher LME prices and regional premiums. Cash balance stood at $332 million, net debt was $220 million (below the $300 million target), and the company expects to receive approximately $94 million in 45X tax credits for 2025 in the next few months.

Outlook

Management sees strong global aluminum demand driven by light weighting, electrification, data infrastructure, commercial aviation, and defense/rearmament. The Middle East conflict has disrupted approximately 2.5 million tons of Gulf production, expanding the expected 2026 global deficit to 1.4 million tons. U.S. and European premiums are rising, and supply chains are strained, reinforcing the need for domestic production. Spot prices are expected to provide further tailwinds in Q3.

Growth Drivers

Key growth levers include the Mount Holly expansion (adding ~230,000 metric tons, nearly 10% of U.S. primary production), the restart of Grundartangi Potline 2 (full production by end of July 2026), and the planned Oklahoma smelter (750,000 metric tons, doubling total U.S. production). The company is also placing expansion tons to support existing U.S. customers affected by Middle East disruptions and supplying value-added products into the European market.

Balance Sheet & CapEx

Q1 CapEx was $76 million, of which $71 million was for the Mount Holly expansion, Grundartangi restart, and Jamalco's new steam generation turbine. A similar CapEX level is expected in Q2 to complete these projects, after which spending should return to normalized levels. The Mount Holly project is expected to fully repay its capital cost by the end of 2026.

Margins

Adjusted EBITDA margin in Q1 was approximately 35.6% ($231 million on $649 million revenue). For Q2, management expects adjusted EBITDA of $315-$335 million, driven by higher realized LME and premiums, partially offset by seasonal OpEx increases ($15-$20 million) and raw material headwinds ($10 million). Operating leverage is improving as expansion volumes ramp, with full run-rate volume impact expected in Q3.

Key Risks

Management flagged risks from Middle East conflict (disrupted production and supply chains), raw material shortages (heavy fuel oil, caustic soda, coke, pitch), lower bauxite quality at Jamalco, power price volatility (Winter Storm Fern), insurance recovery timing lags (one to two quarters behind claims), and reliance on Section 232 trade protections. There is also execution risk on major capital projects and potential changes in government policies.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Full capacity achieved across all assets, driving strong Q2 results with $752M in sales and $327M adjusted EBITDA. Robust market demand and new U.S. policy incentives support growth, while the Oklahoma smelter project advances toward FID.

Q1 2026 Q1 2026 2026-05-07

Strong Q1 results driven by higher prices and operational execution, with major expansions at Mount Holly and Grundartangi on track. Guidance points to higher Q2 EBITDA and further upside in Q3 as new capacity ramps and spot prices flow through.

Q4 2025 Q4 2025 2026-02-19

Q4 saw strong operational and financial performance, highlighted by a $634M net sales, $171M adjusted EBITDA, and strategic moves like the Oklahoma smelter partnership and Hawesville sale. 2026 guidance points to higher production, robust cash flow, and continued market tailwinds.

Q3 2025 Q3 2025 2025-11-06

Q3 saw strong financial and operational results, with net sales of $632M and adjusted EBITDA of $101M, despite production challenges at Mount Holly and Grundartangi. Outlook for Q4 and 2026 is robust, driven by higher aluminum prices, strong demand, and ongoing expansion projects.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 saw strong domestic demand and higher U.S. aluminum premiums, with adjusted EBITDA at $74 million and a $50 million Mount Holly restart announced. Q3 EBITDA is guided at $115–$125 million, with further upside expected in Q4 as higher spot prices flow through.

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