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 (NASDAQ: CENX) reported Q1 2022 results with shipments up 5% to 211,411 tonnes and net sales rising 14% to $753.6 million, driven by higher aluminum prices and volume. Net income fell to $17.7 million, impacted by $42.3 million in exceptional items, while adjusted net income rose to $60.7 million. Adjusted EBITDA increased to $105.5 million. The company's liquidity improved to $154.3 million. President Jesse Gary emphasized strong demand in core markets despite inflationary pressures in energy and raw materials.
Century Aluminum Company (NASDAQ: CENX) is set to release its first quarter 2022 earnings on April 28, 2022, post-market. The earnings announcement will be available through GlobeNewswire.
A conference call is scheduled for the same day at 5:00 p.m. Eastern Time, allowing investors to gain insights into the company’s performance. The call will be webcast live on the company's official website, with a replay available shortly after the event.
Verra Mobility (NASDAQ: VRRM) has appointed Craig Conti as the new Executive Vice President and Chief Financial Officer, effective April 11, 2022. Conti, with over 23 years of financial management experience, previously served as CFO of Century Aluminum (NASDAQ: CENX). He replaces Patricia Chiodo, who is retiring after seven years, but will assist in the transition for 90 days. Conti will manage Financial Planning, Treasury, Accounting, and Investor Relations, aiming to enhance shareholder returns and drive growth.
Century Aluminum Company (NASDAQ: CENX) announced that its subsidiary, Nordural Grundartangi ehf, signed a Letter of Intent with Ocean GeoLoop for a carbon capture project at the Grundartangi plant in Iceland. This initiative aims to reduce Iceland's carbon emissions by approximately 10% through the deployment of Ocean GeoLoop's innovative carbon capture technology coupled with a horizontal hydropower unit for self-energization. Nordural strives to become a carbon-neutral aluminum producer, further enhancing its already low CO₂ footprint.
Century Aluminum Company (NASDAQ: CENX) will have its President and CEO, Jesse Gary, participate in a presentation at the BMO Global Metals & Mining Conference on March 1, 2022, at 2:30 p.m. EST. A live audio webcast of the event will be accessible on the company's website's 'Investors' section. Additionally, a slide presentation related to the conference will be available one hour prior to the session. Century Aluminum operates primary aluminum production facilities in the U.S. and Iceland, headquartered in Chicago.
Century Aluminum Company (NASDAQ: CENX) reported a fourth quarter net income of $60.4 million, marking a significant improvement from a loss of $52.4 million in the previous quarter. Fourth quarter net sales rose 13% sequentially to $659.1 million, driven by increased shipment volume and aluminum prices. However, the full year 2021 net loss stood at $167.1 million, worsened by $105 million in exceptional items, including unrealized losses on derivatives. The company is expanding its low-carbon billet production in Iceland and recovering from a recent cyber attack.
On February 16, 2022, Century Aluminum Company (NASDAQ: CENX) reported a cyber incursion affecting its servers. The company swiftly enacted its internal response procedures, shutting down impacted systems and enlisting third-party experts. Currently, there is no material impact on global production, as operations have transitioned to manual procedures where necessary. Some external information systems have been restricted as the company works on resolving the issue. Further updates will be provided as needed.
Century Aluminum Company (NASDAQ: CENX) announced Craig Conti's departure as CFO effective March 1, 2022, to pursue other opportunities closer to family. Conti joined in July 2018, contributing significantly to the company's success. In the interim, Michelle Harrison, Senior VP of Finance, will serve as the principal financial officer while a search for Conti's successor is conducted. CEO Jesse Gary expressed gratitude for Conti’s contributions. The company operates in the primary aluminum sector, notably in the U.S. and Iceland.
Century Aluminum Company (NASDAQ: CENX) will announce its fourth quarter 2021 earnings on February 24, 2022, after market close. The earnings release will be disseminated via GlobeNewswire. A conference call to discuss the earnings will follow at 5:00 p.m. Eastern time on the same day. Investors can join the live webcast on the company's website, with a replay available approximately two hours post-call.
Century Aluminum Company (NASDAQ: CENX) expanded its Board from five to six members on December 6, 2021, appointing Jennifer Bush as an independent director. Bush, a long-term Cummins Inc. executive, will bring extensive experience in industrial leadership, overseeing a $5 billion business segment. Her focus on safety, operational excellence, and sustainability aligns with Century’s goals. Her term will last until the annual stockholders' meeting in 2022. Century Aluminum operates primary aluminum production in the U.S. and Iceland, emphasizing growth and sustainability.
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