Core Viewpoint - The article emphasizes the importance of timing and sustainability in short-term investing, highlighting that a solid trend can lead to profitable opportunities if supported by strong fundamentals and positive earnings revisions [1][2]. Group 1: Stock Performance - Century Aluminum (CENX) has shown a significant price increase of 37.1% over the past 12 weeks, indicating strong investor interest [4]. - In the last four weeks, CENX's price has increased by 16.6%, suggesting that the upward trend is still intact [5]. - CENX is currently trading at 80% of its 52-week high-low range, indicating a potential breakout opportunity [5]. Group 2: Fundamental Strength - CENX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for identifying stocks like CENX that have the fundamental strength to maintain their upward momentum [3]. - The article suggests that there are multiple stocks passing through the "Recent Price Strength" screen, providing additional investment opportunities [8].

世纪铝业是铝土矿、氧化铝和原铝产品的综合生产商，在美国生产原铝，并在冰岛、荷兰和牙买加设有 工厂。 8月7日（周四），世纪铝业公司（Century Aluminum）宣布，计划重启南卡罗来纳州Mt. Holly冶炼厂的 闲置生产。 该公司表示，将为此投资约5,000万美元，创造100多个新的就业机会，并将提高美国铝产量约10%。 首席执行官Jesse Gary表示，此次重启得以实现，得益于美国总统唐特朗普对将关键金属制造业务迁回 国内的承诺。 世纪铝业补充说，此次重启将使目前以75%的产能运营的该工厂在2026年6月30日前实现满负荷生产。 ...

Financial Data and Key Metrics Changes - Century Aluminum generated $74 million of adjusted EBITDA in Q2 2025, with net sales of $628 million, reflecting a $6 million decrease primarily due to lower third-party alumina sales [7][25] - The company reported a net loss of $5 million or $0.05 per share, while adjusted net income was $30 million or $0.30 per share excluding exceptional items [25] - Liquidity increased to $363 million, up $24 million quarter over quarter, with a cash balance of $41 million [26][34] Business Line Data and Key Metrics Changes - Shipments increased to approximately 176,000 tons, a 4% sequential increase, reflecting strong operational performance across all smelters [25] - Realized LME prices averaged $2,540 per ton in Q2, down $11 from the prior quarter, while the Midwest premium increased to $850 per ton, up $247 due to the Section 232 aluminum tariffs [8][29] - Domestic billet shipments were up 8% year over year in the first half, indicating strong demand from downstream customers [13] Market Data and Key Metrics Changes - Global aluminum supply remains constrained, with China near its production cap of 45 million tons, leading to expectations of a global market deficit in 2025 [12] - Spot Midwest premium is currently close to $1,600 per ton, reflecting the impact of increased tariffs [9] - The Atlantic region has seen an expanding alumina premium of about $30 due to short supplies [15] Company Strategy and Development Direction - The company announced the restart of 50,000 metric tons of production at Mt. Holly, increasing its production capacity to over 220,000 metric tons per year, representing a $50 million investment [21][22] - Century aims to capitalize on the favorable market conditions and the Section 232 tariffs to enhance domestic aluminum production, potentially tripling U.S. production by the end of the decade [20][24] - The strategic review process for the Hawesville facility is ongoing, with final negotiations expected to conclude by the end of Q3 [19][57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong domestic demand for aluminum products and the positive impact of tariffs on operational results [10][12] - The company anticipates Q3 adjusted EBITDA in the range of $115 million to $125 million, driven by lagged LME and Midwest premium increases [37] - Management highlighted the importance of the Section 232 program in restoring American manufacturing and supporting job creation [20][24] Other Important Information - The refinancing of $250 million senior secured notes was completed, simplifying the debt structure and lowering interest costs [26][27] - The company expects to receive tax credits related to U.S. production, with a receivable of $195 million as of June 30 [33][48] Q&A Session Summary Question: Can you talk about your sourcing plans for raw materials, especially alumina? - Management confirmed that the additional alumina needs for Mt. Holly will be serviced within the existing alumina sourcing plans for 2026 [43][44] Question: What is the expected timeline for receiving the manufacturing credit? - Management expects the FY 2023 credit imminently and the FY 2024 amount over the next six to nine months, with visibility into the tax return processing [48][49] Question: Can you provide an update on the Hawesville facility? - Management stated that the strategic review process is progressing well, with final negotiations expected to conclude soon [57] Question: What are the milestones for the new smelter project? - The next milestone will likely be site selection, which is tied to energy agreements, with major spending expected in 2026 [60] Question: How is the cast house project at Grundartangi progressing? - Management reported that the cast house project is going well, with production ramping up and positive market acceptance [71][73]

Group 1 - The American Primary Aluminum Association (APAA) supports President Trump's Section 232 aluminum tariff, which has enabled Century Aluminum to increase U.S. aluminum production by 10% and create over 100 new jobs with an average salary of $100,000 [1][2] - Century Aluminum plans to invest $50 million to enhance U.S. aluminum production, with the Mt. Holly facility expected to return to full operational capacity in the spring [2] - The Section 232 aluminum tariff is viewed as a significant change for the U.S. aluminum industry, fulfilling President Trump's campaign promises and benefiting thousands of American workers [2] Group 2 - The APAA is a non-profit trade association that advocates for the interests of America's primary aluminum industry and its workers through initiatives like the Aluminum Now campaign [3]

Financial Performance - Century Aluminum recorded $74 million in Q2 2025 Adjusted EBITDA [11] - Net sales were $628 million in Q2 2025 [32] - The company refinanced 750% Senior Secured Notes with new 6875% notes, extending maturity to 2032 [11] Market Conditions and Tariffs - Realized LME price was approximately $2,540/MT and realized MWP was approximately $850/MT in Q2 [9] - The Section 232 aluminum tariff rate increased to 50% on June 4, 2025, resulting in a spot MWP of approximately $1,600/MT or 72c/lb [9] - Global aluminum inventory levels remain at historic lows of 47 days [9] Operational Updates - Mt Holly plans to restart over 50,000 MT of idled production, aiming for full capacity utilization by Q2 2026 [9] - Grundartangi's production was slightly impacted due to a transformer outage [9, 11] - The company shipped 175,741 tonnes of aluminum in Q2 2025 [32] Q3 Outlook - Q3 2025 Adjusted EBITDA is projected to be between $115 million and $125 million [37] - This outlook includes an estimated hedge impact of $(10) million to $(5) million and a tax expense of $(5) million to $0 [37]

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Q2 saw a net loss, H1 net income was lower due to a prior-year gain, while total assets and operating cash flow improved [Consolidated Statements of Operations](index=3&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated Statements of Operations Highlights (in millions, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | $628.1 | $560.8 | $1,262.0 | $1,050.3 | | **Gross profit** | $36.2 | $20.4 | $96.8 | $36.9 | | **Operating income** | $20.7 | $6.4 | $66.8 | $8.3 | | **Net (loss) income** | $(9.1) | $(6.7) | $16.6 | $238.0 | | **Net (loss) income attributable to Century stockholders** | $(4.6) | $(2.5) | $25.1 | $244.3 | | **Diluted EPS** | $(0.05) | $(0.03) | $0.25 | $2.24 | - The significant decrease in net income for the six months ended June 30, 2025, compared to 2024 is primarily due to a **$245.9 million** bargain purchase gain recognized in the 2024 period[7](index=7&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in millions) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total current assets** | $790.3 | $802.8 | | **Total assets** | $1,949.0 | $1,939.4 | | **Total current liabilities** | $451.1 | $463.7 | | **Total liabilities** | $1,264.7 | $1,276.7 | | **Total equity** | $684.3 | $662.7 | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Cash Flow Summary (in millions) | Cash Flow Activity | Six months ended June 30, 2025 | Six months ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $80.2 | $(3.3) | | **Net cash used in investing activities** | $(33.6) | $(44.3) | | **Net cash (used in) provided by financing activities** | $(38.8) | $0.1 | | **Change in cash, cash equivalents and restricted cash** | $7.8 | $(47.5) | [Condensed Notes to the Consolidated Financial Statements](index=10&type=section&id=Condensed%20Notes%20to%20the%20Consolidated%20Financial%20Statements) Notes detail related-party transactions, tax credit benefits, a single segment, and a post-quarter debt refinancing - As of June 30, 2025, Glencore plc and its affiliates beneficially owned **42.9%** of Century's outstanding common stock and all of its Series A Convertible Preferred Stock[31](index=31&type=chunk) - For the six months ended June 30, 2025, the company derived approximately **59.1%** of its consolidated net sales from Glencore[32](index=32&type=chunk) - The Inflation Reduction Act (IRA) Section 45X production tax credit reduced Cost of goods sold by **$41.8 million** and Selling, general and administrative expenses by **$1.3 million** for the six months ended June 30, 2025[53](index=53&type=chunk) - Subsequent to the quarter end, on July 22, 2025, the company issued **$400.0 million** of **6.875%** Senior Secured Notes due 2032 and used the proceeds to redeem its 2028 Notes[136](index=136&type=chunk)[137](index=137&type=chunk) - Beginning in Q1 2025, the company determined it has only one operating and reportable segment, managed on a consolidated basis[123](index=123&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Improved financial performance is attributed to higher aluminum prices and tariffs, with increased net sales and gross profit, supported by solid liquidity and debt refinancing - In May 2025, tariffs on primary aluminum were increased from **25%** to **50%**, effective June 4, 2025, which has increased the Midwest Premium and is expected to have a material positive impact on financial results[147](index=147&type=chunk) - The company entered into an agreement with the U.S. Department of Energy for up to **$500 million** in funding to build a new aluminum smelter, though disbursement of funds is currently paused pending an ongoing review[148](index=148&type=chunk) Average Aluminum Pricing ($ per tonne) | Metric | Q2 2025 | Q1 2025 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | **Average LME** | $2,447 | $2,631 | $2,538 | $2,360 | | **Average MWP** | $993 | $729 | $855 | $417 | - Total liquidity as of June 30, 2025, was **$362.5 million**, comprising **$40.7 million** in cash and **$321.8 million** in unused availability under revolving credit facilities[179](index=179&type=chunk) - Estimated total capital spending for 2025 is approximately **$70 to $80 million**, including investments in the Jamalco facility[192](index=192&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk disclosures from the prior fiscal year's Annual Report on Form 10-K - As of June 30, 2025, there have been no material changes in the company's quantitative and qualitative disclosures about market risks since the fiscal year ended December 31, 2024[197](index=197&type=chunk) [Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls were ineffective due to material weaknesses in IT and business process controls, with remediation ongoing - Management concluded that the company's disclosure controls and procedures were not effective as of June 30, 2025[198](index=198&type=chunk) - The ineffectiveness is due to material weaknesses in general information technology controls and business process controls that were previously reported for the fiscal year ended December 31, 2024[199](index=199&type=chunk) - Remediation efforts are ongoing but the material weaknesses were not fully remediated as of the end of the quarter[200](index=200&type=chunk)[203](index=203&type=chunk) [PART II - OTHER INFORMATION](index=42&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is party to various legal actions, but does not expect a material adverse effect on its financial condition or results - The company states that legal actions arising from the normal course of business are not expected to have a material adverse effect on its financial position, results of operations, or liquidity[206](index=206&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors disclosed in the prior fiscal year's Annual Report on Form 10-K - No material changes have occurred to the risk factors disclosed in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024[207](index=207&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - There were no unregistered sales of equity securities or use of proceeds from such sales during the quarter[208](index=208&type=chunk) [Other Information](index=43&type=section&id=Item%205.%20Other%20Information) This section discloses related-party agricultural sales with Iranian entities and no Rule 10b5-1 trading plan changes - Under the Iran Threat Reduction and Syria Human Rights Act, the company disclosed that non-U.S. affiliates of its largest stockholder had sales contracts for agricultural products with Iranian government-controlled entities, with gross revenue not exceeding **$137 million** for the quarter ended June 30, 2025[210](index=210&type=chunk)[211](index=211&type=chunk) - During the quarter ended June 30, 2025, no company directors or executive officers adopted or terminated any Rule 10b5-1 trading plans for company securities[215](index=215&type=chunk) [Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including debt indentures, security agreements, and officer certifications - The report includes several exhibits, such as the Indenture for the **6.875%** Senior Secured Notes due 2032, an amendment to the company's loan and security agreement, and certifications by the CEO and CFO[217](index=217&type=chunk)

Company Overview - Century Aluminum Company (NASDAQ:CENX) plans to restart over 50,000MT of idled production at its Mt. Holly, SC smelter with an investment of approximately $50 million [1] - The company is the largest producer of primary aluminum in the United States and operates production facilities in Iceland, the Netherlands, and Jamaica [5] Production and Economic Impact - The restart will create over 100 new jobs and boost U.S. domestic aluminum production by almost 10 percent [1] - The Mt. Holly smelter, when operating at full capacity, has an economic impact of over $890 million annually in South Carolina, with an average wage of $100,000 for jobs directly supported by Century Aluminum [3] Government and Regulatory Support - The restart is facilitated by President Trump's application of Section 232 tariffs, which recently increased tariffs on aluminum imports to 50% [2] - The South Carolina Public Service Authority (Santee Cooper) has cooperated with Century Aluminum to extend the current power supply contract through 2031, which is essential for the restart [4]

Century Aluminum Company Reports Second Quarter 2025 Results Chicago, August 7, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced its second quarter 2025 results. Second Quarter 2025 Financial Results | $MM (except shipments and per share data) | | | | | | --- | --- | --- | --- | --- | | | Q2 2025 | | | Q1 2025 | | Aluminum shipments (tonnes) | | 175,741 | | 168,672 | | Net sales | $ | 628.1 | $ | 633.9 | | Net (loss) income attributable to Century stockholders | $ | (4.6) $ | ...

Group 1 - Century Aluminum Company (NASDAQ: CENX) will report second quarter 2025 earnings on August 7, 2025, after market close [1] - A follow-up conference call will be held on August 7, 2025, at 5:00 p.m. Eastern time [1] - The earnings call will be webcast live on the company's website, with a replay available approximately two hours after the live call [2] Group 2 - Registration for the webcast should begin at least 10 minutes before the call [2] - Investor contact for inquiries is Ryan Crawford, reachable at investorrelations@centuryaluminum.com or (312) 696-3132 [2] - Media contact is Tawn Earnest, available at (614) 698-6351 [2]

Core Viewpoint - Century Aluminum (CENX) stock is considered hazardous and a poor investment choice at its current price of approximately $22 due to several identified issues despite its low valuation [2][3]. Valuation Comparison - CENX stock appears inexpensive when compared to the broader market based on price per dollar of sales or profit [4]. Revenue Growth - Century Aluminum's revenues have shown significant growth, with a 11.4% increase from $2.1 billion to $2.4 billion in the past 12 months, compared to a 5.5% growth for the S&P 500 [6]. - The company experienced an average annual decline of 1.4% in its top line over the last three years, while the S&P 500 saw a 5.5% increase [6]. - Quarterly revenues rose by 29.5% to $634 million in the most recent quarter from $490 million a year prior, outperforming the S&P 500's 4.8% improvement [6]. Profitability Metrics - Century Aluminum's operating income over the last four quarters was $166 million, reflecting a poor operating margin of 7.0% [7]. - The operating cash flow (OCF) during this timeframe was $63 million, indicating a very poor OCF margin of 2.6% compared to 14.9% for the S&P 500 [7]. - The price-to-sales (P/S) ratio for Century Aluminum is 0.9, while the S&P 500's is 3.1; the price-to-earnings (P/E) ratio is 17.3 versus the benchmark's 26.9 [7]. Financial Stability - Century Aluminum's debt stood at $483 million at the end of the most recent quarter, with a market capitalization of $2.1 billion, resulting in a moderate debt-to-equity ratio of 23.3% compared to 19.4% for the S&P 500 [9]. - Cash (including cash equivalents) constitutes $45 million of the $2.0 billion in total assets, leading to a poor cash-to-assets ratio of 2.3% [9]. Downturn Resilience - CENX stock has historically performed worse than the S&P 500 during several downturns, including an 82.1% drop during the inflation shock of 2022 compared to a 25.4% decline for the S&P 500 [10]. - During the COVID pandemic in 2020, CENX stock fell 62.1%, while the S&P 500 experienced a peak-to-trough decline of 33.9% [10]. - In the global financial crisis of 2008, CENX stock dropped 98.7%, significantly worse than the S&P 500's 56.8% decline [11]. Overall Assessment - Century Aluminum's performance across key parameters is summarized as follows: Growth is very strong, profitability is very weak, financial stability is weak, and downturn resilience is very weak, leading to an overall weak assessment of the stock [13].