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.
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Century Aluminum Company (NASDAQ: CENX) announced an agreement to acquire Noble Group Holdings Limited's 55% interest in the Jamalco joint venture in Jamaica for $1. Jamalco boasts an annual alumina production capacity of approximately 1.4 million tonnes and employs over 900 individuals. The acquisition is part of Century's strategy to secure a stable supply of alumina, which is critical for its operations. The transaction is projected to close by the end of April 2023. Jesse Gary, Century's President and CEO, stated that this integration will enhance supply chain transparency and operational efficiency, positioning Century for better performance. The move aims to tap into Jamalco's reputation for high-quality alumina production and strategic market presence, fostering long-term value creation for shareholders.
Century Aluminum Company (NASDAQ: CENX) is set to announce its first quarter 2023 earnings on May 8, 2023, after market close. A news release will be issued via GlobeNewswire, followed by a conference call at 5:00 p.m. Eastern time. The call will be accessible via the company’s website, and a replay will be available two hours post-broadcast.
This earnings report marks a significant moment for CENX, as investors look for insights into the company’s financial health and future outlook amidst fluctuating aluminum prices.
CHICAGO, March 3, 2023 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) announced its commitment to support the Biden administration's industrial innovation and decarbonization efforts. President and CEO Jesse Gary emphasized the importance of maintaining U.S. manufacturing capabilities and protecting American jobs while advancing sustainable practices. Federal investment is deemed essential for achieving these goals. Gary stated that a robust domestic aluminum market is vital for U.S. national security, economic independence, and climate objectives, paving the way for a greener future.
Century Aluminum Company (NASDAQ: CENX) expressed support for the Biden administration's decision to impose a 200% tariff on Russian aluminum imports. CEO Jesse Gary emphasized that this move aims to protect the domestic aluminum market from excess production by Russian producers, which has undercut U.S. competitors. The tariffs are framed as critical for national security, economic independence, and sustainability, contributing to a more robust domestic supply chain and a greener future for the U.S.
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.
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