Core Viewpoint - The tariffs imposed by the Trump administration on imported aluminum have failed to revive domestic aluminum production, leading to increased costs for American consumers and closures of local smelters instead of restarts [1][6]. Group 1: Impact of Tariffs - The 25% aluminum tariff has significantly affected the physical market, with regional delivery premiums reflecting the tariff costs, despite the London Metal Exchange providing benchmark aluminum prices [1]. - European aluminum premiums have decreased by over 30% year-on-year, highlighting the price disparity caused by U.S. trade policies [5]. - The CFO of Norsk Hydro indicated that the costs from tariffs will ultimately be passed on to downstream users, likely resulting in higher prices for American consumers [5]. Group 2: Energy Costs and Production Challenges - High energy costs, particularly electricity prices in the U.S., are a major barrier to the revival of the energy-intensive primary aluminum smelting industry [6]. - The cost of electricity for aluminum production in the U.S. is approximately $550 per ton, significantly higher than Canada’s $290 per ton, which hampers competitiveness [6]. - Recent industry developments include the permanent closure of Alcoa's Intalco smelter due to a lack of competitive power supply, and Century Aluminum temporarily idling its smelter in Kentucky due to soaring energy costs [9]. Group 3: Market Dynamics and Price Effects - The tariffs have led to a restructuring of trade flows, with Canadian producers shifting to European markets in response to U.S. tariffs, which has allowed European metals to fill the gap in U.S. demand [10]. - The increase in Midwest aluminum premiums due to tariffs has also raised scrap aluminum prices, indirectly passing costs onto downstream customers [10]. - The construction sector, which is experiencing weak demand, is particularly affected, as the rising costs are reflected in the performance guidance of companies like Hydro, indicating a soft spot in their extrusion products segment [10].

Core Viewpoint - Century Aluminum reported quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.53 per share, representing a 47.17% earnings surprise [1] - The company posted revenues of $633.9 million for the quarter, missing the Zacks Consensus Estimate by 1.54%, but showing an increase from $489.5 million year-over-year [2] Financial Performance - The earnings report indicates a loss of $0.39 per share in the same quarter last year, highlighting a significant improvement in earnings [1] - Over the last four quarters, Century has surpassed consensus EPS estimates two times and topped revenue estimates twice [2] Stock Performance - Century shares have declined approximately 9.7% since the beginning of the year, compared to a 4.7% decline in the S&P 500 [3] - The current Zacks Rank for Century is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.97 on revenues of $660.1 million, and for the current fiscal year, it is $3.36 on revenues of $2.48 billion [7] - The Metal Products - Procurement and Fabrication industry is currently in the top 31% of Zacks industries, suggesting a favorable industry outlook [8]

Financial Performance - Century Aluminum's net sales for Q1 2025 increased by $3.0 million compared to Q4 2024, driven by realized LME and regional price premiums of $35.6 million and favorable volume and sales mix of $11.3 million, despite a decrease in third-party alumina sales of $44.5 million [158]. - For Q1 2025, net sales rose by $144.4 million compared to Q1 2024, primarily due to favorable realized LME and regional price premiums of $91.1 million and an increase in third-party alumina sales of $58.0 million, partially offset by unfavorable volume and sales mix of $4.7 million [159]. - Gross profit for Q1 2025 decreased by $5.7 million compared to Q4 2024, mainly due to unfavorable raw material price realization of $25.7 million and unfavorable power price realization of $22.2 million, partially offset by favorable realized LME and regional price premiums of $35.6 million [160]. - Gross profit increased by $44.1 million for Q1 2025 compared to Q1 2024, primarily due to favorable metal price realization of $63.5 million and favorable regional price realization of $27.6 million, offset by higher power price realization of $26.7 million and increased operating expenses of $20.3 million [161]. Pricing and Premiums - The average price of primary aluminum per tonne for Q1 2025 was $2,631, compared to $2,199 in Q1 2024, reflecting a significant increase driven by tariff changes [149]. - The Midwest Premium (MWP) for aluminum increased from $402 per tonne in Q1 2024 to $729 per tonne in Q1 2025, influenced by the increase in Section 232 tariff rate from 10% to 25% effective March 12, 2025 [148]. Acquisitions and Investments - Century Aluminum acquired a 55% interest in Jamalco, resulting in a bargain purchase gain of $245.9 million recognized in Q1 2024 [144]. - The company finalized a bargain purchase gain of $245.9 million related to the acquisition of General Alumina Holdings Limited for the three months ended March 31, 2024 [168]. - The company entered into a Cooperative Agreement with the U.S. Department of Energy for up to $500 million to build a new aluminum smelter, marking the first new U.S. primary aluminum smelter in 45 years [140]. - The company entered into a Cooperative Agreement with the DOE for up to $500 million in IRA funding to build a new U.S. primary aluminum smelter [188]. Production and Operational Challenges - Jamalco experienced a production loss of approximately 84,000 tonnes in 2023 due to equipment failure, impacting gross margin by approximately $30.4 million [145]. - The expected capacity demand costs for power at the Sebree plant are projected to increase from approximately $3.1 million for the twelve months ending May 31, 2025, to approximately $5.9 million for the twelve months ending May 31, 2026 [152]. Expenses and Cash Flow - Selling, general and administrative expenses decreased by $2.3 million for the three months ended March 31, 2025, compared to the previous quarter [163]. - Net gain on forward and derivative contracts - nonaffiliates decreased by $8.1 million for the three months ended March 31, 2025, compared to the previous quarter [165]. - Income tax expense increased to $1.6 million for the three months ended March 31, 2025, compared to $0.2 million for the previous quarter [169]. - Cash and cash equivalents were approximately $44.9 million as of March 31, 2025, an increase from $32.9 million at December 31, 2024 [177]. - Net cash provided by operating activities was $72.3 million for the three months ended March 31, 2025, compared to a net cash used of $14.8 million in the same period last year [178]. - Capital expenditures for the three months ended March 31, 2025, were $21.2 million, with total capital spending estimated at $70 to $80 million for the year [189]. - As of March 31, 2025, the company had a liquidity position of $339.1 million, including cash and cash equivalents and unused availability under revolving credit facilities [173]. - The company had $43.7 million remaining under its stock repurchase program as of March 31, 2025, with no repurchases made during the three months ended March 31, 2025 [185].

Financial Data and Key Metrics Changes - Century Aluminum generated $78 million of adjusted EBITDA in Q1 2025, a modest decrease from Q4 2024 primarily due to polar vortex-related weather conditions impacting energy prices and one-time alumina costs [20][24] - Net sales for the quarter were $634 million, reflecting a $3 million increase due to higher metal volume and all-in metal pricing, partially offset by lower third-party alumina sales [22] - Net income was reported at $30 million or $0.29 per share, with adjusted net income at $37 million or $0.36 per share [22] - Liquidity increased to $339 million, up nearly $100 million quarter over quarter, and net debt declined by $55 million to $442 million [24] Business Line Data and Key Metrics Changes - First quarter shipments rose slightly to nearly 169,000 tonnes, an increase of 1% sequentially, with all smelters operating at targeted utilization levels [21] - Jamalco produced its highest quarterly volume in Q1 since acquisition in 2023, while Grundartangi returned to full production levels in March [21][14] - Billet orders from Grundartangi were lower than anticipated in Q1 due to demand weakness in the European market, but a small uptick was noted as Q2 began [15] Market Data and Key Metrics Changes - Realized LME prices averaged $2,553 per ton in Q1, up $91 per ton from the prior quarter, while the Midwest premium averaged $6.00 per ton, up $165 per ton [25] - Global market is expected to face a deficit of approximately 400,000 tonnes in 2025 as China reaches its production cap, with global inventories at new lows of only 46 days [11] - U.S. shipments increased by 6.7% year over year in March as downstream customers shifted supply chains back to the U.S. [12] Company Strategy and Development Direction - The company is focused on achieving lower production costs through capital improvement programs, particularly at the Jamalco facility, which aims to return to nameplate capacity of close to 1,400,000 tonnes [17][21] - The new smelter project is expected to double the size of the existing U.S. aluminum industry, creating over 1,000 full-time jobs and 5,500 construction jobs [38] - Management emphasized the importance of the Section 232 tariffs in stabilizing the U.S. aluminum market and supporting domestic production [35][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for aluminum, particularly in the U.S., despite some weakness in Europe [62] - The company expects Q2 adjusted EBITDA in the range of $80 million to $90 million, with anticipated benefits from lagged pricing and reduced energy costs [30] - Management remains cautious about market volatility but believes that aluminum prices will continue to rise in the near to medium future [66] Other Important Information - The company is on track to complete a major capital improvement project at Jamalco by year-end, which will enhance self-sufficiency in power generation [17] - A one-time increase in maintenance spending of about $10 million is expected in Q2 due to planned maintenance at the Sebree facility [18] Q&A Session Summary Question: Confirmation on one-time OpEx cost in Q2 - Management confirmed that the incremental OpEx cost of $10 million to $15 million in Q2 is a one-time expense [40] Question: Clarification on alumina costs - Management explained that higher alumina costs were also one-time due to timing of vessel sales, with no expected benefits in Q2 [42] Question: Update on Jamalco operations and cost improvements - Management indicated that Jamalco is operating well and is expected to improve further with the introduction of a new steam generation turbine [54] Question: Expectations on aluminum market and inventory replenishment - Management projected that global inventories will continue to decrease, supporting higher aluminum prices in the future [66] Question: Key milestones for the new aluminum smelter project - Management highlighted that finalizing power arrangements and site selection are the next key milestones before significant capital expenditure begins [76]

Financial Data and Key Metrics Changes - Century Aluminum generated $78 million of adjusted EBITDA in Q1 2025, a modest decrease from Q4 2024 primarily due to polar vortex-related weather conditions impacting energy prices and one-time alumina costs [21][22] - Net sales for the quarter were $634 million, reflecting a $3 million increase due to higher metal volume and all-in metal pricing, partially offset by lower third-party alumina sales [23] - Net income was reported at $30 million or $0.29 per share, with adjusted net income at $37 million or $0.36 per share [23][24] - Liquidity increased to $339 million, up nearly $100 million quarter over quarter, and net debt declined by $55 million to $442 million [25] Business Line Data and Key Metrics Changes - First quarter shipments rose slightly to nearly 169,000 tonnes, an increase of 1% sequentially, with all smelters operating at targeted utilization levels by quarter end [22] - Jamalco produced its highest quarterly volume in Q1 since acquisition in 2023, while Grundartangi returned to full production levels in March [22][14] - Billet orders from Grundartangi were lower than anticipated in Q1 due to demand weakness in the European market, but a small uptick was noted entering Q2 [16] Market Data and Key Metrics Changes - Realized LME prices averaged $2,553 per ton in Q1, up $91 per ton from the prior quarter, while the Midwest premium averaged $6.00 per ton, up $165 per ton [26] - Global market is expected to face a deficit of approximately 400,000 tonnes in 2025 as China reaches its production cap [10] - U.S. energy prices have eased since the polar vortex conditions in Q1, with Midwest Indiana hub prices down approximately 15% compared to the last quarter [31] Company Strategy and Development Direction - The company is focused on achieving lower production costs through capital improvement programs, particularly at the Jamalco facility [22][18] - Century Aluminum is committed to building a new smelter project, which will be the first new smelter built in the U.S. in fifty years, aiming to double the size of the existing U.S. industry [37] - The company is actively working to secure supply chains in response to recent tariff implementations, aiming to mitigate cost increases [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for aluminum, particularly in the U.S., as customers are nearshoring their supply chains [61] - The company anticipates continued support for higher aluminum prices due to low global inventories and ongoing demand growth [11] - Management remains cautious about market volatility but expects a small deficit in the aluminum market this year, with prices likely to rise in the near to medium future [62][65] Other Important Information - The company plans to complete a major capital improvement program at Jamalco by year-end, which will enhance power generation and lower production costs [18] - A one-time increase in maintenance spending of about $10 million is expected in Q2 due to planned outages at the Sebree facility [20] Q&A Session Summary Question: Confirmation on the one-time OpEx cost of $10 million to $15 million in Q2 - Management confirmed that this cost is indeed one-time and should reverse in Q3 [40][41] Question: Clarification on alumina costs being one-time - Management explained that the higher alumina costs were related to timing of vessel sales, with a high-priced vessel sold in Q1 and lower prices expected in Q2 [42] Question: Update on manufacturing credit receivable - Management expects to receive about $60 million of the FY '23 amount in Q2, with the remaining $20 million expected later this year or early next year [44][45] Question: Confirmation on debt reduction as a priority for excess cash - Management confirmed that reducing debt remains the top use of excess cash while continuing existing CapEx programs [50] Question: Update on operations at Jamalco - Management reported that Jamalco is operating well, with plans to introduce a steam generation turbine by year-end to reduce third-party power purchases [53] Question: Expectations on aluminum market and inventory replenishment - Management indicated that they do not foresee a replenishment of inventories and expect aluminum prices to continue rising [65] Question: Key milestones for the new aluminum smelter project - Management highlighted that finalizing power arrangements and site selection are the next key milestones, with significant CapEx expected in 2026 [74]

Financial Performance & Liquidity - Century Aluminum reported Q1 2025 Adjusted EBITDA of $78 million, compared to $81 million in Q4 2024[9] - Net debt decreased to $442 million in Q1 2025 from $497 million in Q4 2024[9, 31] - The company has robust liquidity of $339 million, including $45 million in cash and $294 million in credit facility availability[9, 31] - Q1 2025 net income was $30 million, or $0.29 earnings per share, compared to $45 million, or $0.44 earnings per share in Q4 2024[31] - Q2 2025 Adjusted EBITDA is projected to be between $80 million and $90 million[37] Operational Highlights - Shipments increased slightly from 166,677 tonnes in Q4 2024 to 168,672 tonnes in Q1 2025[31] - Jamalco refinery achieved its highest quarterly production volume since acquisition, with a continued focus on cost improvements[9] - Grundartangi returned to full production levels in March following a minor power curtailment[9] - Mt Holly experienced emergency energy charges due to a polar vortex impact in South Carolina[9] Market Conditions & Outlook - Global aluminum inventory levels have fallen to only 46 days of consumption[9] - Energy prices increased in Q1 2025 due to the polar vortex in the U S, but Q2 Indy Hub prices are approximately 15% lower quarter-to-date[9] - The company expects to realize a higher Midwest Premium (MWP) moving forward, partially benefiting from the increased Section 232 tariff in Q1[9]

[Century Aluminum Company First Quarter 2025 Results](index=1&type=section&id=Century%20Aluminum%20Company%20Reports%20First%20Quarter%202025%20Results) [First Quarter 2025 Financial and Business Highlights](index=1&type=section&id=First%20Quarter%202025%20Financial%20and%20Business%20Highlights) In Q1 2025, Century Aluminum's net sales increased slightly by $3.0 million sequentially to $633.9 million, driven by higher aluminum prices and premiums, while net income and Adjusted EBITDA decreased due to higher input and energy costs Q1 2025 vs Q4 2024 Financial Results | $ million (except shipments and per share data) | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Aluminum shipments (tonnes) | 168,672 | 166,677 | | Net sales | $633.9 | $630.9 | | Net income attributable to Century stockholders | $29.7 | $45.2 | | Diluted earnings per share | $0.29 | $0.44 | | Adjusted net income | $36.6 | $43.5 | | Adjusted earnings per share | $0.36 | $0.42 | | Adjusted EBITDA | $78.0 | $80.9 | - Net sales increased by **$3.0 million** sequentially, driven by higher LME aluminum prices, regional premiums, and favorable volume, partially offset by lower third-party alumina sales[4](index=4&type=chunk) - Net income decreased by **$15.5 million** sequentially to **$29.7 million**, primarily due to higher input costs and losses on derivative instruments, with Adjusted net income at **$36.6 million**, a **$6.9 million** sequential decrease[5](index=5&type=chunk) - Adjusted EBITDA decreased by **$2.9 million** from the prior quarter to **$78.0 million**, mainly due to higher energy and raw material costs, partially offset by improved LME and regional price premiums[6](index=6&type=chunk) - Key operational achievements include a **38% increase** in the realized Midwest premium, a new five-year labor contract for the Grundartangi smelter, and an extension of the power purchase agreement in Iceland through Q1 2032[7](index=7&type=chunk) [Second Quarter 2025 Outlook](index=2&type=section&id=Second%20Quarter%202025%20Outlook) The company anticipates an improvement in financial performance for the second quarter of 2025, with Adjusted EBITDA expected to be in the range of $80 to $90 million - The company expects second quarter Adjusted EBITDA to range between **$80 million to $90 million**[8](index=8&type=chunk) - The expected increase in Adjusted EBITDA is driven by higher Midwest regional premiums and lower energy costs, partially offset by planned major maintenance and seasonal labor expenses[8](index=8&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Q1 2025, including the Statements of Operations, Balance Sheets, and Cash Flows, detailing the company's financial performance, position, and cash movements [Consolidated Statements of Operations](index=4&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q1 2025, the company reported total net sales of $633.9 million and a gross profit of $60.6 million, resulting in a net income attributable to Century stockholders of $29.7 million, or $0.29 per diluted share Q1 2025 Statement of Operations (in millions) | | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Total net sales | $633.9 | $630.9 | | Gross profit | $60.6 | $66.3 | | Operating income | $46.1 | $49.3 | | Net income attributable to Century stockholders | $29.7 | $45.2 | | Diluted EPS | $0.29 | $0.44 | [Consolidated Balance Sheets](index=5&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2025, Century Aluminum's total assets stood at $1,954.5 million, with total equity increasing to $690.7 million and cash and cash equivalents rising to $44.9 million Balance Sheet Highlights (in millions) | | Mar 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $44.9 | $32.9 | | Total current assets | $821.9 | $802.8 | | Total assets | $1,954.5 | $1,939.4 | | Total current liabilities | $447.4 | $463.7 | | Total equity | $690.7 | $662.7 | [Consolidated Statements of Cash Flows](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) In Q1 2025, the company generated $72.3 million in net cash from operating activities, a significant turnaround from a $14.8 million use of cash in Q1 2024, ending the quarter with a $12.0 million increase in total cash Cash Flow Summary (in millions) | | Three months ended Mar 31, 2025 | Three months ended Mar 31, 2024 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $72.3 | $(14.8) | | Net cash used in investing activities | $(15.5) | $(29.7) | | Net cash (used in) provided by financing activities | $(44.8) | $49.2 | | Change in cash, cash equivalents and restricted cash | $12.0 | $4.7 | [Selected Operating Data](index=7&type=section&id=SELECTED%20OPERATING%20DATA) Total primary aluminum shipments increased by 1% sequentially to 168,672 tonnes in Q1 2025, with an increase from United States operations and a slight decrease from Iceland Primary Aluminum Shipments (Tonnes) | | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | United States | 94,601 | 89,613 | 97,602 | | Iceland | 74,071 | 77,064 | 77,025 | | **Total** | **168,672** | **166,677** | **174,627** | [Reconciliation of Non-GAAP Financial Measures](index=8&type=section&id=RECONCILIATION%20OF%20NON-GAAP%20FINANCIAL%20MEASURES) This section provides a detailed reconciliation from GAAP to non-GAAP financial measures, adjusting net income to $36.6 million and calculating Adjusted EBITDA at $78.0 million for Q1 2025 Reconciliation to Adjusted Net Income (in millions) | | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net income attributable to Century stockholders (GAAP) | $29.7 | $45.2 | | Unrealized loss (gain) on derivative contracts, net of tax | $3.0 | $(5.8) | | Mt. Holly emergency energy charges | $3.5 | $— | | **Adjusted net income attributable to Century stockholders (Non-GAAP)** | **$36.6** | **$43.5** | Reconciliation to Adjusted EBITDA (in millions) | | Q1 2025 | Q4 2024 | | :--- | :--- | :--- | | Net income attributable to Century stockholders (GAAP) | $29.7 | $45.2 | | Adjustments (Interest, Tax, D&A, etc.) | $48.3 | $35.7 | | **Adjusted EBITDA attributable to Century stockholders (Non-GAAP)** | **$78.0** | **$80.9** | [Legal Disclosures](index=2&type=section&id=Legal%20Disclosures) This section contains important legal information, explaining the company's rationale for using non-GAAP financial measures and providing a cautionary statement about forward-looking statements and associated risks - The company uses non-GAAP measures like adjusted net income and adjusted EBITDA to facilitate period-to-period comparisons by excluding items management believes are not indicative of ongoing operating performance[10](index=10&type=chunk) - The report contains forward-looking statements concerning future events and performance, which are based on current expectations but are subject to significant risks and uncertainties[11](index=11&type=chunk)[13](index=13&type=chunk) - Key risk factors include global economic conditions, aluminum and raw material prices, power availability and costs, geopolitical events like the wars in Ukraine and the Middle East, and the impact of trade actions like Section 232 tariffs[11](index=11&type=chunk)

Core Insights - Century Aluminum Company reported a net income attributable to stockholders of $29.7 million for Q1 2025, a decrease of $15.5 million from Q4 2024, primarily due to higher input costs and losses on derivative instruments [4][8] - Adjusted net income for the same period was $36.6 million, down $6.9 million sequentially, influenced by exceptional items including emergency energy charges and unrealized losses on derivatives [4][8] - The company expects Q2 2025 Adjusted EBITDA to range between $80 to $90 million, driven by increased regional premiums and lower energy costs [6] Financial Performance - Net sales for Q1 2025 were $633.9 million, an increase of $3.0 million from Q4 2024, attributed to higher LME aluminum prices and favorable volume and mix [3][8] - Aluminum shipments increased by 1% sequentially to 168,672 tonnes [8] - Adjusted EBITDA for Q1 2025 was $78.0 million, a decrease of $2.9 million from the previous quarter, mainly due to higher energy prices and raw material costs [5][8] Operational Highlights - The Midwest premium realized was $602, reflecting a 38% increase from the prior quarter [8] - The company recorded a positive impact of $16.2 million from the increase in Section 232 aluminum tariffs to 25% [8] - Century Aluminum's liquidity position as of March 31, 2025, was $339.1 million, consisting of cash and cash equivalents of $44.9 million and $294.2 million in borrowing availability [5][8] Strategic Developments - A new five-year labor contract was approved for the Grundartangi smelter [8] - The power purchase agreement with ON Power, the largest power provider in Iceland, was extended through Q1 2032 [8]

Group 1 - Century Aluminum Company will report first quarter 2025 earnings on May 7, 2025, after market close [1] - A follow-up conference call will be held on the same day 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 - Investors are advised to begin the registration process at least 10 minutes before the live call [2] - Contact information for investor relations and media inquiries is provided [2]

Core Viewpoint - Century Aluminum (CENX) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on the consensus measure of EPS estimates from sell-side analysts, reflecting the changing earnings picture of a company [1][2]. - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Century indicate an improvement in the company's underlying business, which is expected to positively impact its stock price [5][10]. Earnings Estimate Revisions for Century - For the fiscal year ending December 2025, Century is projected to earn $3.80 per share, representing a 15.5% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Century has increased by 37.7%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Century to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [9][10].