Welcome to our dedicated page for Century Alum Co news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Alum Co stock.
Century Aluminum Company (NASDAQ: CENX) is an integrated producer of bauxite, alumina and primary aluminum products and has described itself as the largest producer of primary aluminum in the United States. With corporate headquarters in Chicago, Illinois, the company owns and operates primary aluminum smelting facilities in the United States and Iceland, operates production facilities in the Netherlands and is the majority owner and managing partner of the Jamalco alumina refinery in Jamaica.
This news page aggregates company announcements, press releases and market updates related to Century Aluminum. Readers can follow quarterly earnings releases, where the company reports net sales, aluminum shipments, net income or loss, and non-GAAP measures such as adjusted net income and adjusted EBITDA. These earnings updates often include commentary on aluminum prices, regional premiums, derivative results, raw material costs, power prices and other factors that influence Century Aluminum’s performance.
News items also cover operational developments across Century Aluminum’s global footprint. Examples include reports on equipment issues at the Grundartangi smelter in Iceland, such as an electrical equipment failure that temporarily reduced production on one potline, and updates from the Jamalco alumina refinery in Jamaica, including temporary curtailment and restart procedures following Hurricane Melissa. The company has also issued news about power agreements and plans to restart idled capacity at its Mt. Holly smelter in South Carolina, which it links to trade measures such as Section 232 aluminum tariffs.
In addition, Century Aluminum publishes announcements about financing activities, such as the pricing and closing of senior secured notes offerings and amendments to its credit facilities. For investors and followers of CENX stock, this news stream provides a centralized view of financial results, operational events, capital structure changes and other material developments affecting the company’s integrated aluminum operations.
Century Aluminum Company (NASDAQ: CENX) has announced a proposed private offering of $250 million in senior secured notes due April 2028 and $75 million in convertible senior notes due May 2028. The company plans to utilize net proceeds from these offerings to repay its existing 12.0% Senior Secured Notes due 2025 and reduce borrowings under its credit facilities. Additional capped call transactions may be entered to manage potential dilution. These transactions are subject to market conditions.
Century Aluminum Company (NASDAQ: CENX) announced a cash tender offer for its 12.0% Senior Secured Notes due 2025. This offer aims to refinance these Notes with longer maturity financing. The tender offer is set to expire on April 9, 2021, and payment for accepted Notes will occur on the expected settlement date of April 14, 2021. The offer is not contingent on a minimum amount of Notes being tendered, but is subject to financial transactions that meet Century's requirements. Additional details on the offer can be found in the Offer to Purchase documentation.
Century Aluminum announced a new three-year power contract with Santee Cooper for its Mt. Holly smelter, effective April 1, 2021, allowing a 50% production increase. Restart work is on schedule for Q4 2021. The contract also rescinds the WARN notice for employees. Despite market challenges, the company forecasts a potential $70 million increase in adjusted EBITDA for Q2 2021, driven by favorable pricing conditions. However, equipment issues at the Hawesville plant may reduce shipments by 20,000 to 25,000 metric tons in the last three quarters of the year, impacting overall performance.
Century Aluminum Company (NASDAQ: CENX) reported its fourth quarter and full year 2020 results, highlighting a net loss of $35.5 million or $0.40 per share in Q4, with adjusted EBITDA of $0.8 million. For the full year, the company faced a net loss of $123.3 million, down from $80.8 million in 2019. Despite these losses, Century noted improvements in cash position, and a stable production outlook. The company is optimistic about demand recovery, ongoing power agreements, and initiatives towards sustainability.
Century Aluminum Company (NASDAQ: CENX) has appointed Gunnar Gudlaugsson as Executive Vice President of Global Operations, effective immediately. Gudlaugsson has been with the company since 2008 and has held several leadership roles. His promotion comes as John Hoerner, current EVP of North American Operations, will retire after ten years of service but will remain as an advisor until October 2021. CEO Michael Bless acknowledged Hoerner's significant contributions to the company and the U.S. aluminum industry.
Century Aluminum Company (CENX) will disclose its fourth quarter 2020 earnings on February 18, 2021, following market close. The announcement will be made via GlobeNewswire, and a live conference call is scheduled for the same day at 5:00 p.m. Eastern time. Investors can access the webcast on the company’s website and a replay will be available shortly after. This earnings report is anticipated to provide insights into the company's financial performance and future outlook.
Century Aluminum Company (NASDAQ: CENX) has secured a five-year agreement to supply 150,000 metric tons of Natur‐Al™ aluminum to Hammerer Aluminium Industries, with Glencore handling the supply logistics. Natur‐Al™ is produced using 100% renewable energy sources at Century's facility in Iceland and boasts one of the lowest CO₂ footprints in the industry. The direct CO₂ emissions for Natur‐Al™ are below two tonnes per tonne of aluminum, significantly less than the industry average. This partnership reflects Century's commitment to sustainability and the demand for low-carbon aluminum products.
Century Aluminum Company (CENX) praises President Biden's Executive Order aimed at bolstering domestic manufacturing and supply chains. The CEO, Michael Bless, emphasizes the importance of manufacturing for national security and job creation. The company supports Buy America standards, advocating for domestic production of aluminum for federal contracts. This initiative is seen as vital for rebuilding the U.S. manufacturing base post-COVID-19, ensuring resilience during supply chain disruptions. Century Aluminum is the largest primary aluminum producer in the U.S., with smelters in Kentucky and South Carolina.
Century Aluminum announced a preliminary agreement for a new three-year power contract with Santee Cooper for its Mt. Holly smelter, projected to boost production by 50% and create 70 jobs. The new contract will supply a minimum of 290MW of power, increasing output to 75% of capacity. Current operations will continue under an extension until March 31, 2021, pending regulatory approvals, with the new contract expected to commence on April 1, 2021.
Century Aluminum Company (CENX) reported Q3 2020 results, showing shipments of 203,022 tonnes, down 3% from Q2. Net sales were $392.9 million, a decrease from $401.9 million in the previous quarter, driven by lower LME prices and regional premiums. The company experienced a net loss of $(58.2) million and an adjusted net loss of $(64.4) million. Adjusted EBITDA also fell to $(31.4) million. Century's cash position was $81.4 million, with $88.0 million available in its revolving credit facility. Concerns arose regarding Mt. Holly's electric power service, putting operations at risk.