Century Aluminum reports record growth and a $500M U.S. smelter breakthrough
Century Aluminum reports record growth and a $500M U.S. smelter breakthrough
Century Aluminum reports record growth and a $500M U.S. smelter breakthrough
Century Aluminum has reported strong financial results and key operational updates for early 2026. The company's CEO, Jesse Gary, highlighted progress across its smelters, including a major repair at Grundartangi and advancements in the Oklahoma smelter project. Meanwhile, CFO Peter Trpkovski outlined improved earnings and guidance for the coming quarter.
During the fourth quarter, Century's smelters delivered what Gary called 'excellent performance.' The Sebree plant achieved a record year in profitability and key metrics. At the same time, repairs at Grundartangi progressed faster than expected, allowing Line 2 to restart by late April—six months ahead of schedule. Insurance will cover the costs of the outage.
Gary also discussed the Oklahoma smelter, a joint venture with Emirates Global Aluminium (EGA). This will be the first new U.S. smelter in nearly 50 years, using EGA's EX technology to produce 750,000 metric tons annually. The project, backed by a $500 million Department of Energy grant, is set to more than double America's aluminum output. EGA holds a 60% stake, with Century owning the remaining 40%.
The company's redevelopment of the Hawesville site into an AI data centre campus brought in $200 million in cash and a 6.8% ownership share. Gary noted that future returns could far exceed the initial payment. At Jamalco, hurricane preparedness measures were reinforced, and a new power turbine (TG4) neared completion, expected to cut refinery costs significantly.
Financially, Century reported net sales of $634 million for the quarter, up $2 million from the previous period. Net income reached $1.8 million, or $0.02 per share, while adjusted net income—excluding one-off items—hit $128 million, or $1.25 per share. Looking ahead, Q1 2026 adjusted EBITDA is forecast between $215 million and $235 million, driven by higher aluminum prices and regional premiums.
Century Aluminum's latest updates show progress in production, financial growth, and strategic projects. The Oklahoma smelter and Hawesville redevelopment mark significant expansions, while operational improvements at existing sites aim to boost efficiency. With aluminum prices rising and demand remaining strong, the company's outlook for 2026 appears positive.