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) announced that CEO Jesse Gary will participate in a Q&A session at the virtual Goldman Sachs Global Metals & Mining Conference on November 18, 2021, at 10:00 a.m. EST. The session will provide insights into the company’s operations and future expectations. Investors can access a real-time audio webcast on the company’s website, enhancing transparency and engagement.
Century Aluminum operates primary aluminum production facilities in the U.S. and Iceland, offering significant industry insights.
Century Aluminum Company (NASDAQ: CENX) announced a collaboration between its subsidiary Norðurál and renewable energy provider Qair to supply green electricity from two planned windfarms in Iceland, totaling 200 MW. This agreement aims to reduce the carbon footprint of aluminum production at the Grundartangi smelter. Additionally, the companies will work on technology to capture CO₂ from the smelter, potentially utilizing it for eFuel production near the site. Century's commitment to environmental standards includes its certified Natur-Al™ aluminum, which has significantly lower CO₂ emissions compared to industry averages.
Century Aluminum Company (CENX) reported its Q3 2021 results, showing a net loss of $(52.4) million, an improvement of $17.3 million from Q2. Despite a 10% rise in net sales to $581.4 million due to increased aluminum prices, the company faced $46.7 million in exceptional items. Adjusted EBITDA reached $70.3 million, a $36.4 million increase, supported by strong demand and successful expansion projects at Mt. Holly and Hawesville. The new low-carbon billet project in Iceland aims to produce 150,000 tonnes, enhancing sustainability in the aluminum market.
Century Aluminum Company (NASDAQ: CENX) announced the commencement of construction for a new low-carbon billet casthouse at its Grundartangi, Iceland smelter. The project, with an investment of $120 million, aims for 150,000 tonnes of billet production starting in Q1 2024, while increasing annual capacity for primary foundry alloys from 60,000 to 120,000 tonnes. The expansion is expected to create 90 jobs and enhance product premiums by replacing standard-grade ingot production. Utilizing Iceland's renewable energy resources, the Natur-Al™ billets will significantly lower CO₂ emissions, targeting European market demand.
Century Aluminum Company (NASDAQ: CENX) will announce its third quarter 2021 earnings on November 3, 2021, after market close. A press release will follow through GlobeNewswire.
Following the earnings report, a conference call is scheduled for the same day at 5:00 p.m. Eastern Time. The call will be webcast live on the company's website, with a replay available two hours post-event.
Century Aluminum Company (CENX) reported its second quarter 2021 results with key highlights including a realized LME aluminum price of $2,155/T, up $215/T from the previous quarter. Net sales grew 19% sequentially to $528 million, despite a net loss of $35.1 million, an improvement of $104.9 million from Q1. Adjusted EBITDA rose to $34.4 million, driven by higher aluminum prices. The company secured a power contract extension in Iceland, ensuring 100% renewable energy through 2026 and supporting future growth in value-added products.
Century Aluminum Company (NASDAQ: CENX) has announced a three-year extension of its power contract with Landsvirkjun, Iceland's National Power Company, increasing the capacity from 161 MW to 182 MW. This extension aims to accommodate growing power needs due to the recent capacity creep at its Norðurál Grundartangi plant and supports future growth for value-added products. CEO Jesse Gary praised the agreement, highlighting its importance for the sustainability of the Icelandic industry. This contract ensures flexibility in meeting operational demands through 2026.
Century Aluminum Company (NASDAQ: CENX) is set to report its second quarter 2021 earnings on August 4, 2021, after market close. Following the earnings release, a conference call will be held at 5:00 p.m. Eastern time the same day. Investors can access the live webcast on the company's official website, with a replay available two hours post-event. This update signals an ongoing commitment to transparency and investor communication.
Century Aluminum Company (NASDAQ: CENX) has announced a significant 50% production capacity increase at its Mt. Holly smelter in South Carolina, underscored by a $60 million capital investment. This expansion is set to create 100 new jobs, boosting total employment to over 400. The project reflects Century's dedication to revitalizing the U.S. primary aluminum industry, highlighted by remarks from key officials including South Carolina Governor Henry McMaster and U.S. House Majority Whip James Clyburn.
Century Aluminum Company (NASDAQ: CENX) has appointed new leaders to its executive team: John DeZee as EVP, General Counsel & Secretary and Matt Aboud as SVP, Strategy and Business Development. Effective immediately, DeZee, who has been with the company since 2008, will replace Jesse Gary in the legal role, while Gary transitions to President and CEO on July 1, 2021. Aboud, previously with Hydro Aluminum, brings extensive experience in low-carbon aluminum products. These appointments are aimed at strengthening Century's market position and product offerings in a low-carbon economy.
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