Century Aluminum Company
- Open
- 44.93
- Day high
- 45.41
- Day low
- 43.85
- Prev close
- 44.73
- Volume
- 1.4M
- Mkt cap
- $4.5B
- P/E (TTM)
- 12.8
- EPS (TTM)
- $3.53
- P/B
- 3.9
- P/S
- 1.8
- Yield
- —
- Per share
- —
Century Aluminum Company (CENX) is a Basic Materials company listed on NASDAQ. The stock is up 132% over the past year. Drillr has 11 published research articles covering CENX.
Century Aluminum Company (CENX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CENX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.16 | $1.06 | -8.6% | $649M | +2.0% |
| Feb 19, 2026 | $1.25 | $0.02 | -98.4% | $634M | -13.0% |
| Nov 6, 2025 | $0.79 | $0.15 | -81.0% | $632M | -4.4% |
| Aug 7, 2025 | $0.34 | $-0.05 | -114.7% | $628M | -2.9% |
| Feb 20, 2025 | $0.42 | $0.47 | +11.9% | $631M | +22.4% |
| Aug 8, 2024 | $0.02 | $-0.03 | -250.0% | $561M | +13.1% |
| May 1, 2024 | $-0.19 | $-0.39 | -105.3% | $490M | -2.3% |
| Feb 21, 2024 | $0.17 | $0.39 | +129.4% | $512M | +7.4% |
| Feb 23, 2023 | $-0.44 | $-0.31 | +29.5% | $530M | -1.8% |
| Apr 28, 2022 | $0.36 | $0.59 | +63.9% | $754M | +3.1% |
| Feb 24, 2022 | $-0.05 | $0.17 | +440.0% | $659M | -4.9% |
| Nov 3, 2021 | $-0.10 | $-0.06 | +40.0% | $581M | -0.6% |
CENX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 17, 2026 | Michelmore Andrew Gdirector | Grant | 2,172 | — |
| Jun 17, 2026 | GLASSER ERROLdirector | Grant | 2,172 | — |
| Jun 17, 2026 | Bush Jennifer Marydirector | Grant | 2,172 | — |
| Jun 17, 2026 | Michelmore Andrew Gdirector | Tax | 652 | $54.55 |
| Jun 17, 2026 | Berntzen Jarldirector | Grant | 2,172 | — |
| Jun 17, 2026 | Olivier Tamla Adirector | Grant | 2,172 | — |
| Mar 27, 2026 | Trpkovski Peter Aofficer: EVP, CFO | Sell | 16,739 | $50.51 |
| Mar 17, 2026 | Gary Jesse Edirector, officer: President and CEO | Sell | 150,000 | $55.47 |
| Mar 13, 2026 | Calloway Kenneth Lofficer: SVP, Human Resources | Sell | 18,000 | $58.00 |
| Mar 13, 2026 | Hoffman Robert Fofficer: SVP, IT and CAO | Sell | 10,529 | $56.51 |
| Mar 6, 2026 | Hoffman Robert Fofficer: SVP, IT and CAO | Sell | 10,000 | $56.33 |
| Mar 4, 2026 | Aboud Mattofficer: SVP, Strategy & Business Dev't | Sell | 2,971 | $52.67 |
| Mar 4, 2026 | GLENCORE INTERNATIONAL AG10 percent owner | Sell | 6,315,245 | $51.75 |
| Mar 4, 2026 | Aboud Mattofficer: SVP, Strategy & Business Dev't | Sell | 12,126 | $52.50 |
| Feb 27, 2026 | Gudlaugsson Gunnarofficer: EVP - Global Operations | Sell | 43,000 | $54.10 |
Source: CENX SEC Form 4 filings, latest Jun 17, 2026. For informational purposes only — not investment advice.
See the full CENX insider & 13F page →CENX research & analysis
AA and CENX Jump 2%+ as Iran Airstrike Tightens Global Aluminum Supply
An airstrike on Iran's IRALCO smelter April 7, 2026, tightens global aluminum supply, boosting US producers Alcoa and Century Aluminum via higher LME prices and premiums. Both stocks rallied 2%+ that day, backed by strong FY2025 financials and low valuations. Bullish outlook as war risks favor domestic capacity.
AAIran Airstrike Squeezes Aluminum Supply — AA, CENX Among Top 5 Winners
Airstrike on Iran's IRALCO on April 7, 2026, tightens aluminum supply, favoring US producers CENX, AA, CSTM, KALU, and RIO with higher premiums and margins. CENX tops conviction on pure-play smelting and 14% revenue growth; all show strong TTM gains amid 71% EBITDA surges for leaders.
AAKALUCSTMQatar Alumina Disruption Hits Global Smelters — Pricing Impact and Winner Analysis
QatarEnergy's gas supply disruption has forced the Qatalum smelter to operate at ~60% capacity, removing approximately 235,000 metric tons of annualized aluminum production from global supply. Alcoa (AA) is best positioned as a vertically integrated beneficiary on both alumina pricing and aluminum supply tightness, while Century Aluminum (CENX) offers higher-beta upside but trades at stretched valuations with thin margins vulnerable to input cost spikes.
AANHYACHAlcoa vs Century Aluminum: Side-by-Side in a Supply-Disrupted Market
Alcoa dominates Century Aluminum on profitability (14.6% vs 6.0% EBITDA margin) and balance sheet strength (net cash vs 2.7x net debt/EBITDA), but Century's 203% one-year stock surge reflects the market pricing in tariff-driven upside and the transformative Mississippi smelter project. Alcoa is the quality play at 13.1x forward earnings; Century is the higher-beta policy bet.
AAHow do Alcoa and Century's cost curves compare as US smelter capacity ramps in 2026?
Alcoa's vertically integrated model delivers a 13.6% gross margin versus Century's 10.4%, with an even wider EBITDA margin gap of 14.6% vs 6.0%. Alcoa enters 2026 essentially debt-free with $1.6B in cash, while Century carries $548M in debt and faces massive capex for its Kentucky greenfield smelter. Alcoa offers better risk-adjusted exposure; Century is the higher-beta bet contingent on successful smelter execution.
AAWhich US aluminum smelter benefits more from tariff protection — Alcoa's integrated model or Century's pure-play?
Century Aluminum captures more tariff upside per revenue dollar due to its concentrated US smelting footprint and high Midwest Premium exposure, making it the higher-beta tariff play at 7.4x forward P/E. Alcoa's vertically integrated model delivers structurally superior margins (14.6% vs 5.6% EBITDA) and a fortress balance sheet with near-zero debt, offering better downside protection across commodity cycles.
AAHow much alumina price uplift does Alcoa capture from Qatar supply disruptions in Q1?
Alcoa enters Q1 2026 positioned to capture significant alumina price uplift from Qatar supply disruptions, with its vertically integrated refinery network of 9.7–9.9 million tons of annual production providing direct exposure. The Q1 2025 template — when elevated alumina prices drove EBITDA to $869M and EPS to $2.07 — demonstrates how each $50/ton alumina price move translates to roughly $500M in annualized EBITDA, creating an asymmetric setup against consensus expectations of $1.18 EPS.
AANHYCan Century's Mt. Holly restart reach full capacity on schedule given US power cost volatility?
Century Aluminum's Mt. Holly restart to full 230,000-tonne capacity targets end of June 2026, backed by an extended Santee Cooper power contract through 2031 at cost-of-service rates that insulates against the worst of US power volatility. With $135.6M in cash and Q1 FY2026 EBITDA guided at $215–235M, the $50M project appears well-funded, though operational execution and aluminum price risk remain the key variables to watch.
DUKSOWhat does Mt. Holly's 100% restart mean for US domestic aluminum self-sufficiency?
Century Aluminum's $50M restart of Mt. Holly to 100% capacity (~220,000+ tonnes/year) is on track for summer 2026, representing a ~10% increase in US primary aluminum production. With Q1 FY2026 adjusted EBITDA guided at $215–235M and a new greenfield smelter in the pipeline, the restart is a concrete step toward reducing US import dependence, though execution risk and aluminum price cyclicality remain key concerns.
AAACHWhich European aluminum buyers benefit most from Grundartangi's July 2026 ramp completion?
Century Aluminum's Grundartangi smelter in Iceland is set to return to full production by end of July 2026 after Q3 2025 transformer failures. European aluminum buyers — particularly automotive OEMs, packaging converters, and fabricators like Arconic — stand to benefit from restored low-carbon supply and moderating delivery premiums, while Kaiser Aluminum gains indirect tailwinds for its record 2026 outlook.
ARNCKALUHow much incremental aluminum capacity does Grundartangi's full restoration add to the global market?
Century Aluminum's Grundartangi smelter restoration by end of July 2026 adds an estimated 130,000–155,000 annualized tonnes back to global aluminum supply — roughly 0.2% of world output. While small in percentage terms, the incremental volume is meaningful in a structurally tight Western aluminum market and positions CENX for a significant EBITDA step-up in FY2026, with Q1 guided at $215–$235 million.
AANHY
Century Aluminum Company company profile
Overview
Century Aluminum Company (NASDAQ:CENX) is a leading North American aluminum producer founded in 1981 and headquartered in Chicago, Illinois. The company went public in 1996 and has grown through strategic acquisitions and facility development to become one of the largest primary aluminum producers in the United States. Century operates aluminum smelting facilities in the U.S. and Iceland, along with an alumina refinery in Jamaica and a carbon anode production facility in the Netherlands. The company has positioned itself as a key supplier of low-carbon aluminum products to serve growing demand in renewable energy, automotive, and other industrial applications.
Business
Century Aluminum operates in the global aluminum industry, which involves the production of primary aluminum metal from alumina (aluminum oxide) through an energy-intensive electrolytic smelting process. Primary aluminum production requires dissolving alumina in molten cryolite and passing electric current through the mixture to separate aluminum metal from oxygen - a process that consumes enormous amounts of electricity. The company's core business consists of three main segments: 1. **Primary Aluminum Smelting (approximately 85% of revenue)**: Century operates aluminum smelters that produce standard-grade and value-added aluminum products including ingots, billets, and foundry alloys. The company's facilities include Sebree (Kentucky), Mt. Holly (South Carolina), and Grundartangi (Iceland). These facilities convert alumina into aluminum metal using proprietary reduction cell technology. 2. **Alumina Refining (approximately 10% of revenue)**: Through its 55% ownership of the Jamalco refinery in Jamaica, Century produces alumina from bauxite ore. Alumina serves as the primary raw material for aluminum smelting, and this vertical integration provides some cost control and supply security. 3. **Carbon Products (approximately 5% of revenue)**: The company operates a carbon anode production facility in the Netherlands that manufactures carbon anodes - essential consumable components used in the aluminum smelting process that must be regularly replaced. Century has also been developing value-added aluminum products including low-carbon aluminum billets for the automotive and renewable energy sectors, targeting 80% of production as value-added products by 2024. The company produces aluminum with carbon emissions 75% below the industry average due to its access to renewable hydroelectric power, particularly at its Iceland facility.
Revenue model
Century Aluminum generates revenue primarily through product sales of aluminum metal, alumina, and carbon anodes to industrial customers. The company's business model is heavily influenced by commodity pricing, as aluminum prices are set on the London Metal Exchange (LME) plus regional premiums. **Revenue Streams:** 1. **Aluminum Sales**: The majority of revenue comes from selling primary aluminum at LME prices plus regional premiums (Midwest Premium in the U.S., European Delivery Premium). Current pricing averages $2,500-2,700 per metric ton. 2. **Alumina Sales**: Internal consumption and third-party sales of alumina from the Jamalco refinery. 3. **Value-Added Products**: Higher-margin specialty aluminum products including billets and foundry alloys that command premiums above commodity pricing. **Key Margin Drivers:** **Positive factors** include rising aluminum prices, expanding regional premiums (particularly the U.S. Midwest Premium which has increased from $0.20 to potentially $0.45-0.50 due to Section 232 tariffs), access to low-cost renewable electricity (especially in Iceland), operational efficiency improvements, and growing demand for low-carbon aluminum products in green economy applications. **Negative factors** include volatile alumina input costs (which reached over $500/ton in 2024), energy price inflation (particularly affecting U.S. operations), transportation and logistics costs, currency fluctuations affecting the Iceland operations, and potential economic downturns reducing aluminum demand. The company's margins are also sensitive to capacity utilization rates, as the high fixed costs of smelting operations require consistent production volumes to achieve profitability. **Customer Base**: Century sells to aluminum processors, automotive manufacturers, packaging companies, construction firms, and other industrial users who require primary aluminum as raw material for their manufacturing processes.
Competitive moat
Century Aluminum operates in a moderately defensible position within the aluminum industry, though its moat is not particularly strong compared to technology or consumer brands. The company's competitive advantages stem primarily from structural and regulatory factors rather than proprietary technology or customer switching costs. **Primary Moat Elements:** The company benefits from geographic and regulatory protection through U.S. trade policies, including Section 232 aluminum tariffs that have increased from 10% to 25%, creating barriers for foreign competitors and supporting domestic pricing premiums. Century's access to low-cost renewable hydroelectric power, particularly at its Iceland facility, provides a significant cost advantage in this energy-intensive industry, enabling production of low-carbon aluminum that commands premium pricing. **Competitive Positioning:** Century's vertical integration through its Jamalco alumina refinery provides some supply chain control and cost mitigation, while its focus on value-added products and low-carbon aluminum aligns with growing environmental regulations and customer sustainability requirements. The company's established customer relationships and long-term supply contracts provide some demand stability. **Competitive Threats:** The aluminum industry faces significant competitive pressure from large global producers, particularly Chinese companies that benefit from lower labor costs and government support. Commodity price volatility creates inherent margin instability, and the industry's high capital requirements and energy intensity make it vulnerable to economic cycles. New technologies in aluminum recycling and alternative materials could potentially disrupt primary aluminum demand over the long term. Additionally, Century's smaller scale compared to global giants like Alcoa or Norsk Hydro limits its negotiating power with suppliers and customers. The company's moat is moderate but fragile, heavily dependent on trade protection and energy cost advantages that could change with policy shifts or market developments.
Risks & safety
Century Aluminum presents a **moderate margin of safety** with manageable debt levels but limited cash cushion and cyclical earnings volatility. **Liquidity and Solvency:** - Cash position: $45 million with total liquidity of $339 million including credit facilities - Debt-to-equity ratio: 0.65, indicating moderate leverage - Current ratio: 1.84, showing adequate short-term liquidity - Positive free cash flow of $51 million in Q1 2025, though historically volatile **Valuation Metrics:** - P/E ratio: 14.6x based on recent earnings - EV/EBITDA: 11.7x, reasonable for cyclical industrial company - Price-to-book: 2.38x, reflecting asset-heavy business model - Graham number suggests potential undervaluation relative to book value and earnings **Other Considerations:** - Cyclical industry with volatile cash flows creates earnings uncertainty - High fixed costs require consistent capacity utilization for profitability - Commodity price exposure limits predictability of future cash flows - Recent operational improvements and market tailwinds support near-term outlook
Recent development
Over the past few years, Century Aluminum has executed several strategic initiatives to strengthen its competitive position and capitalize on growing demand for domestic aluminum production. **Major Strategic Moves:** The company completed its 55% acquisition of the Jamalco alumina refinery in Jamaica in 2023, providing vertical integration and supply chain security for its smelting operations. This $200+ million investment has been showing improved performance, with January 2025 production reaching the highest monthly levels since acquisition. **Capacity and Operational Improvements:** Century has been systematically restarting and optimizing its U.S. smelting capacity, including the successful restart of Mt. Holly at 75% capacity and ongoing evaluation of bringing Hawesville back online. The company has also invested in casthouse debottlenecking projects to increase value-added product capacity by 20,000 tonnes, targeting 80% of production as higher-margin specialty products. **New Growth Initiatives:** The company announced plans for a major new green aluminum smelter project that would nearly double U.S. industry capacity, securing up to $500 million in DOE grant funding. Century has also formed a joint venture with MX Holdings for secondary aluminum casthouse operations, expanding its product portfolio beyond primary aluminum. **Market Positioning:** Century has focused on developing low-carbon aluminum products with 75% lower emissions than industry average, positioning itself to benefit from growing environmental regulations and customer sustainability requirements. The company has also benefited from enhanced trade protection through increased Section 232 tariffs, which have risen from 10% to 25% on aluminum imports.
CENX company profile · for informational purposes only — not investment advice.
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