Welcome to our dedicated page for Century Alum news (Ticker: CENX), a resource for investors and traders seeking the latest updates and insights on Century Alum stock.
Century Aluminum Co. reports developments in primary aluminum production, including operating results, shipments, realized metal prices, power costs and raw material price effects. The company produces high-purity aluminum, standard-grade sow and tee bars, and value-added billet and foundry products through smelter operations in the United States and Iceland, with a carbon anode facility in the Netherlands.
Recurring company news includes production restarts and expansion activity at sites such as Mt. Holly and Grundartangi, updates tied to equipment reliability and insurance recoveries, domestic aluminum policy commentary, customer and supply-chain themes, and senior operations leadership changes.
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.
Century Aluminum Company (NASDAQ: CENX) announced that its President and CEO, Jesse Gary, will participate in a Q&A session at the BMO Global Metals, Mining, & Critical Minerals Conference on February 28, 2023, at 10:30 a.m. EST. The session will be available as a real-time audio webcast via the 'Investors' section on Century's website. Century Aluminum operates primary aluminum production facilities in the U.S. and Iceland, with corporate offices in Chicago, IL. Investors are advised that this session may contain forward-looking statements, which involve risks and uncertainties that could affect actual results.
Century Aluminum Company (NASDAQ: CENX) is set to report its fourth-quarter earnings for 2022 on February 23, 2023, after market close. A news release will be available via GlobeNewswire, followed by a conference call at 5:00 p.m. Eastern Time on the same day. The call will be webcast live through the company’s official website, with a replay accessible approximately two hours post-call. This earnings report is crucial for investors as it will provide insights into the company’s financial performance and future outlook amidst fluctuating market conditions.
Century Aluminum Company (CENX) reported its Q3 2022 results, revealing a 19% decrease in shipments due to the Hawesville curtailment. The realized LME aluminum price fell by $425/T to $2,636/T, leading to a 26% decline in net sales to $637.2 million. Despite challenges, the company achieved a net income of $44.3 million, up $6.9 million sequentially. Adjusted net income showed a loss of $(34.2) million. Liquidity improved to $215 million, bolstered by a new $90 million credit facility in November. Proactive cost reduction measures were implemented to enhance financial stability.
DTE has secured a $1.85 million contract with Nordural, a subsidiary of Century Aluminium Company (CENX), for its advanced real-time chemical composition analysis solution at a new low-carbon billet casthouse in Iceland. This initiative aims to enhance operational efficiencies, minimize emissions, and reduce analysis costs. The casthouse will produce 150,000 tonnes of billets annually and is expected to start production in Q1 2024. The project represents a $120 million investment, creating approximately 130 jobs and responding to rising demand for low-carbon aluminium products.
Century Aluminum Company (CENX) is scheduled to report its third quarter 2022 earnings on November 7, 2022, after market close. The earnings release will be distributed via GlobeNewswire.
A follow-up conference call will occur on the same day at 5:00 p.m. Eastern time, available for live webcast on the company’s official website. A replay will be accessible approximately two hours post-call.