CENTURY ALUMINUM (CENX) Company Report

U.S. Aluminum Company has signed an agreement with EGA and Century Aluminum to explore developing an aluminum fabrication plant near the planned primary aluminum production plant in Inola, Oklahoma.
The project, named Oklahoma Primary Aluminum, is anticipated to double U.S. primary aluminum production and position Oklahoma as a national center for aluminum-related manufacturing.
Construction of the Oklahoma Primary Aluminum smelter is expected to commence by the end of 2026, with initial primary aluminum production projected by the end of the decade.
EGA holds a 60 percent share, and Century Aluminum holds a 40 percent share in the Oklahoma Primary Aluminum project.

4 days ago

Press Release

Century Aluminum Details Strategic Projects, Operational Expansions, and Q1 2026 Outlook

CENX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Century Aluminum (CENX) is partnering with Emirates Global Aluminium (EGA) to build a 750,000-ton aluminum smelter in Inola, Oklahoma, with CENX holding a 40% stake. The project has a $500 million grant from the DOE, and a final investment decision is anticipated in Q4 2026.
The company is restarting the remaining 25% idle capacity at its Mont Holly smelter by the end of June, adding 50,000 tons of annual production, and bringing an Iceland line back online by mid-summer. This will increase annualized capacity to 770,000 tons across all operating assets.
CENX expects Q1 2026 adjusted EBITDA of $225 million at realized prices, with a potential uplift to a $300 million quarterly run rate if current spot prices and normalized power costs are considered.
The idle Hawesville site was sold to TeraWulf for $200 million in cash, with Century retaining a 6.8% interest in the completed data center.
Management believes Section 232 steel and aluminum tariffs are permanent, noting their strengthening and removal of exemptions, which supports the current strong price environment.

4 days ago

Transcript

Century Aluminum Provides Q1 2026 Outlook and Updates on Strategic Projects

CENX

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Century Aluminum anticipates Q1 2026 adjusted EBITDA of $225 million at realized prices, with a potential uplift to $300 million at current spot prices before the Mont Holly expansion.
The company's Mont Holly expansion is set to begin in April 2026, aiming to ramp up the final 25% of idle capacity by the end of June, which will add 50,000 tons of annual production.
Century Aluminum has partnered with EGA to build the largest aluminum smelter in the Western world in Inola, Oklahoma, with a planned capacity of 750,000 tons, where Century will hold a 40% ownership stake. A final investment decision for this project is targeted for Q4 2026.
The company sold its idle Hawesville site to TeraWulf for $200 million in cash, while retaining a 6.8% interest in the completed data center.
Management believes that Section 232 steel and aluminum tariffs are permanent, noting their survival across administrations, the removal of exemptions, and an increase in rates from 25% to 50%.

4 days ago

Transcript

Century Aluminum Provides Q1 Outlook, Details New Projects, and Strategic Asset Sale

CENX

Guidance Update

New Projects/Investments

M&A

Century Aluminum anticipates Q1 adjusted EBITDA of $225 million at realized prices, with a potential uplift to a $300 million quarterly run rate adjusted EBITDA at current spot prices and normalized power costs. The company has also met its net debt targets due to recent proceeds, including a $175 million Section 45X receivable and $200 million from the Hawesville sale.
The company is developing a new 750,000-ton aluminum smelter in Inola, Oklahoma, in partnership with Emirates Global Aluminium (EGA), where Century will own 40% of the project, supported by a $500 million grant from the Department of Energy, with a final investment decision expected in Q4 this year. Additionally, the Mount Holly smelter expansion, adding 50,000 tons of annual production, is scheduled for completion by the end of June.
Century Aluminum sold its idle Hawesville smelter to TeraWulf for $200 million in cash, while retaining a 6.8% interest in the completed data center.

4 days ago

Transcript

Century Aluminum Details Strategic Projects and Q1 2026 Outlook

CENX

New Projects/Investments

Guidance Update

Earnings

Century Aluminum (CENX), the largest U.S. Primary Aluminum Producer, is advancing significant operational restarts, including Mt. Holly (expected to increase U.S. production by 10%, complete by end of June) and Grundartangi (complete by end of July).
The company is undertaking a new 750K MT Oklahoma Smelter Project in a joint venture with EGA, targeting first hot metal production by end of 2029 and a Final Investment Decision (FID) in Q4 2026, supported by a U.S. Department of Energy grant of up to $500 million.
The Hawesville site redevelopment closed in February 2026, providing $200 million cash upfront and a 6.8% non-dilutive interest in a new data center expected to be energized in 2H 2027.
Q4 2025 Adjusted EBITDA was $171 million, with a Q1 2026 Adjusted EBITDA outlook ranging from $215 million to $235 million (Guide) and $295 million to $315 million (Spot).

4 days ago

Presentation

Century Aluminum Company Statement on U.S. Supreme Court IEEPA Ruling

CENX

Legal Proceedings

New Projects/Investments

Century Aluminum Company issued a statement regarding the U.S. Supreme Court’s decision on tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
The company highlighted that the Section 232 steel and aluminum tariffs were not impacted by the Supreme Court's decision and remain in full effect.
Century Aluminum supports President Donald J. Trump's America First trade policies, crediting them with strengthening the U.S. industrial base and ensuring a level playing field for American industry.
Since the Section 232 program was reinforced, Century Aluminum has increased total U.S. primary aluminum production by almost 10% at its Mt. Holly smelter and announced plans to build the first new American aluminum smelter in close to 50 years in Inola, Oklahoma, which will double U.S. production.
Century Aluminum is the largest producer of aluminum in the United States, smelting nearly 60% of the country’s primary aluminum, and plans to invest billions more in new and expanded production.

7 days ago

Press Release

Century Aluminum Provides Q1 2026 Outlook and Updates on Key Projects

CENX

Earnings

Guidance Update

New Projects/Investments

Century Aluminum provided a Q1 2026 Adjusted EBITDA outlook of $215 million to $235 million and expects to ship approximately 630,000 tons of primary aluminum in fiscal year 2026.
Significant progress was reported on the Oklahoma Smelter project, a joint venture with EGA (Century owns 40%), which is expected to more than double total U.S. aluminum production with an expected size of 750,000 metric tons.
The Grundartangi smelter's Line 2 is anticipated to restart by the end of April and return to near full production by the end of July, with insurance coverage confirmed.
The company ended Q4 2025 with $134 million in cash and completed the sale of Hawesville in February, receiving $200 million.
Global aluminum market conditions are favorable, with prices reaching a four-year high of $3,325 in January and continued projections for global deficits in 2026.

Feb 19, 2026, 10:00 PM

Transcript

Century Aluminum provides Q4 2025 operational update and 2026 outlook

CENX

Earnings

Guidance Update

New Projects/Investments

Century Aluminum announced a partnership with EGA for the Oklahoma Smelter project, where Century will own 40% and the project will benefit from a $500 million grant from the U.S. Department of Energy, with a final investment decision and groundbreaking targeted by the end of 2026.
The Hawesville site was sold for $200 million in cash and a 6.8% equity interest in the future AI digital infrastructure campus, with the data center expected online by the second half of 2027.
The Grundartangi smelter's Line 2 is expected to restart by the end of April 2026 and return to full production by the end of July 2026, while the Mt. Holly expansion is on track to increase U.S. aluminum production by nearly 10% in 2026, with restarts beginning in April.
For Q1 2026, Adjusted EBITDA is projected to increase by $70 million-$80 million compared to Q4 2025, driven by higher lagged LME and delivery premiums, with aluminum prices reaching a four-year high of $3,325 in January 2026.

Feb 19, 2026, 10:00 PM

Transcript

Century Aluminum Reports Q4 and Full-Year 2025 Results, Announces Operational Restarts and New Project Developments

CENX

Earnings

Guidance Update

New Projects/Investments

Century Aluminum reported FY 2025 Adjusted EBITDA of $425 million and Q4 2025 Adjusted EBITDA of $171 million, with a Q1 2026 Adjusted EBITDA outlook of $215 - $235 million.
The company plans significant operational restarts, including Mt. Holly restarting over 50,000MT of idled production by April 2026 and Grundartangi beginning its restart by end of April 2026, aiming for near full production by end of July 2026.
Century Aluminum announced a joint venture with EGA for a new Oklahoma smelter, which is supported by a $500 million DOE grant, and completed the Hawesville transaction in February 2026, receiving $200 million cash upfront and a 6.8% interest in a data center.
Strong aluminum market conditions are anticipated to continue into 2026, with spot LME around $3,100/MT and global aluminum inventory levels remaining at historic lows.

Feb 19, 2026, 10:00 PM

Presentation

Century Aluminum Reports Q4 2025 Results, Details Oklahoma Smelter Partnership, and Provides 2026 Outlook

CENX

Earnings

New Projects/Investments

Guidance Update

Century Aluminum reported net sales of $634 million and Adjusted EBITDA of $171 million for Q4 2025.
The company announced a partnership with EGA for a new Oklahoma Smelter, with Century owning 40% and EGA owning 60%, supported by a $500 million grant from the U.S. Department of Energy. This smelter is expected to have a capacity of 750,000 metric tons.
Century will receive $200 million in cash and a 6.8% equity interest from the sale and redevelopment of its Hawesville site into a digital infrastructure campus by TeraWulf.
For Q1 2026, Adjusted EBITDA is expected to be in the range of $215 million to $235 million. The company also projects to ship approximately 630,000 tons of primary aluminum in fiscal year 2026.