Welcome to our dedicated page for Century Aluminum Co news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Aluminum Co stock.
Century Aluminum Co. (NASDAQ: CENX) is a leading primary aluminum producer supplying standard-grade, high-purity, and value-added primary aluminum products. Headquartered in Chicago, Illinois, the company operates smelter facilities in the United States, including Hawesville and Sebree in Kentucky, and Mt. Holly in South Carolina, as well as in Grundartangi, Iceland. With approximately 1,300 employees, Century Aluminum is committed to being an equal opportunity employer.
The company's strategic objective is to maximize financial returns for its stockholders through various initiatives, such as optimizing safety and environmental performance, improving cost structures, managing costs, and enhancing productivity and efficiency. Century Aluminum also aims to expand its primary aluminum business by improving and investing in its existing facilities.
Century's product portfolio includes high-purity aluminum, standard-grade aluminum sow and tee bars, and value-added billet and foundry products. In addition to its primary aluminum assets, the company operates a carbon anode and cathode manufacturing facility in Vlissingen, the Netherlands.
A significant portion of Century's revenue is generated from Glencore, which has agreed to purchase nearly all of Century Aluminum's North American production. Century Aluminum itself sources nearly all of its alumina from Glencore.
Recently, Century Aluminum has entered into a partnership with MX Holdings to establish a new joint venture focusing on the manufacture and marketing of low-carbon secondary billet. The venture aims to produce high-quality alloys with a significant amount of recycled content using low-carbon processes. Initial production is expected to begin in 2026, eventually scaling to 250 million pounds per year.
Financially, Century Aluminum is committed to improving its cost structure and productivity. The company continues to pursue upstream investment opportunities in bauxite mining, alumina refining, and the production of other key operating supplies.
In a recent development, Century Aluminum's president and CEO, Jesse Gary, praised the Biden Administration's decision to triple tariffs on Chinese aluminum imports, emphasizing that it is a critical move for the U.S. aluminum industry. The company plans to build a new greenfield facility, which will double its existing domestic capacity and be among the
Century Aluminum Company (CENX) reported its fourth quarter and full year 2022 results, revealing significant challenges alongside some positive developments. For Q4 2022, net sales fell to $529.9 million, with a reported net loss of $(113.5) million, impacted by $82.2 million in exceptional items, primarily unrealized losses on derivatives. In contrast, full year net sales reached $2.8 billion, a 26% increase from the prior year, and an adjusted net income of $25.6 million was recorded. Liquidity remains strong at $245 million. Looking ahead, the company anticipates improved performance in 2023 due to lower energy costs and strong aluminum demand, with Q1 2023 Adjusted EBITDA projected between $10 to $15 million.
Century Aluminum Company (NASDAQ: CENX) announced that its President and CEO, Jesse Gary, will participate in a Q&A session at the BMO Global Metals, Mining, & Critical Minerals Conference on February 28, 2023, at 10:30 a.m. EST. The session will be available as a real-time audio webcast via the 'Investors' section on Century's website. Century Aluminum operates primary aluminum production facilities in the U.S. and Iceland, with corporate offices in Chicago, IL. Investors are advised that this session may contain forward-looking statements, which involve risks and uncertainties that could affect actual results.
Century Aluminum Company (NASDAQ: CENX) is set to report its fourth-quarter earnings for 2022 on February 23, 2023, after market close. A news release will be available via GlobeNewswire, followed by a conference call at 5:00 p.m. Eastern Time on the same day. The call will be webcast live through the company’s official website, with a replay accessible approximately two hours post-call. This earnings report is crucial for investors as it will provide insights into the company’s financial performance and future outlook amidst fluctuating market conditions.
Century Aluminum Company (CENX) reported its Q3 2022 results, revealing a 19% decrease in shipments due to the Hawesville curtailment. The realized LME aluminum price fell by $425/T to $2,636/T, leading to a 26% decline in net sales to $637.2 million. Despite challenges, the company achieved a net income of $44.3 million, up $6.9 million sequentially. Adjusted net income showed a loss of $(34.2) million. Liquidity improved to $215 million, bolstered by a new $90 million credit facility in November. Proactive cost reduction measures were implemented to enhance financial stability.
DTE has secured a $1.85 million contract with Nordural, a subsidiary of Century Aluminium Company (CENX), for its advanced real-time chemical composition analysis solution at a new low-carbon billet casthouse in Iceland. This initiative aims to enhance operational efficiencies, minimize emissions, and reduce analysis costs. The casthouse will produce 150,000 tonnes of billets annually and is expected to start production in Q1 2024. The project represents a $120 million investment, creating approximately 130 jobs and responding to rising demand for low-carbon aluminium products.
Century Aluminum Company (CENX) is scheduled to report its third quarter 2022 earnings on November 7, 2022, after market close. The earnings release will be distributed via GlobeNewswire.
A follow-up conference call will occur on the same day at 5:00 p.m. Eastern time, available for live webcast on the company’s official website. A replay will be accessible approximately two hours post-call.
Century Aluminum Company (NASDAQ: CENX) reported its second-quarter 2022 results, highlighting a 1% increase in shipments and a 14% rise in net sales sequentially, driven by higher aluminum prices. The company achieved a net income of $37.4 million, though adjusted net income dropped to $30.4 million due to exceptional items. Liquidity improved by $71 million to $225.6 million, supported by an extended credit facility. Notably, the Hawesville plant faced a curtailment due to high energy costs. Century aims to enhance competitiveness amid rising global energy prices.
Century Aluminum Company (NASDAQ: CENX) has appointed Gerald “Jerry” Bialek as the new Executive Vice President and Chief Financial Officer, effective August 22, 2022. Bialek brings significant experience from his previous roles at Cooper Tire & Rubber Company and Ford Motor Company. CEO Jesse Gary highlighted Bialek's expertise in driving growth in industrial manufacturing as a key asset for the company. Century Aluminum, headquartered in Chicago, owns primary aluminum production facilities in the U.S. and Iceland.
Century Aluminum Company (NASDAQ: CENX) is set to announce its second quarter 2022 earnings after market close on August 9, 2022. The announcement will be distributed via GlobeNewswire. Following the release, a conference call is scheduled for the same day at 5:00 p.m. Eastern time, which will be available for live streaming on the company's website. Investors can expect access to a replay of the call approximately two hours post-event.
Century Aluminum Company (CENX) announced the temporary idling of its Hawesville, Kentucky smelter due to soaring energy costs, expected to last 9-12 months. This decision affects over 600 employees who were notified under the WARN Act. The company cited a tripling of energy costs linked to the global energy crisis exacerbated by the war in Ukraine. Century Aluminum remains committed to exploring options to mitigate the idling and believes energy prices will stabilize in the coming year, emphasizing the smelter's strategic importance in U.S. national security.
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