Century Aluminum Company Reports Fourth Quarter 2025 Results

Core Insights - Century Aluminum Company reported its fourth quarter and full year 2025 results, highlighting a significant decrease in net income due to operational challenges and exceptional items [1][5][11]. Fourth Quarter 2025 Highlights - Shipments of primary aluminum decreased by 14% sequentially to 140,257 tonnes, primarily due to idled production at the Iceland facility caused by equipment failure [6][7]. - Net sales for Q4 2025 increased slightly to $633.7 million, driven by higher aluminum prices and regional premiums [8]. - Reported net income attributable to Century stockholders was $1.8 million, a decrease of $13.1 million from Q3 2025 [7]. - Adjusted net income attributable to Century stockholders improved to $128.2 million, up $70.3 million sequentially [7][8]. - Adjusted EBITDA for Q4 2025 was $170.6 million, reflecting a sequential improvement of $69.5 million [8][9]. Full Year 2025 Highlights - Total shipments of primary aluminum for the year decreased by 5% to 647,112 tonnes [10]. - Net sales for FY 2025 increased by $307.6 million to $2.5 billion, primarily due to higher realized aluminum prices [10]. - Reported net income attributable to Century stockholders was $41.8 million, down $295.0 million from FY 2024 [11]. - Adjusted net income for FY 2025 was $253.8 million, an improvement of $152.4 million from the previous year [11][12]. - Adjusted EBITDA for FY 2025 was $425.1 million, an increase of $180.9 million compared to FY 2024 [12]. Operational Developments - In January 2026, Century announced a joint development agreement with Emirates Global Aluminium to build a new smelter in Oklahoma, marking the first new primary aluminum smelter in the U.S. since 1980 [8]. - The company also announced plans to restart over 50,000 MT of idled production at the Mt. Holly facility by the end of Q2 2026 [8]. Financial Position - As of December 31, 2025, Century had cash and cash equivalents of $134.2 million and total liquidity of $418.0 million [8][9]. - The company reported a gross profit of $256.4 million for FY 2025, compared to $172.0 million in FY 2024 [11][21].