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Century Aluminum (CENX)
NASDAQ:CENX
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.62Last Year’s EPS
0.36Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly constructive strategic and operational picture: management announced a transformational Oklahoma smelter JV (backed by DOE funding and Bechtel engagement), completed a lucrative Hawesville sale while retaining upside, and provided tangible operational recovery timelines that support a material production increase in 2026. Financially, adjusted EBITDA and operating cash flow improved meaningfully and leverage declined. Near-term challenges remain — notably the Grundartangi outage-driven margin loss, Hurricane Melissa disruptions at Jamalco, a short-lived Midwest energy spike and some input-cost pressure — but insurance coverage, imminent turbine completion at Jamalco, earlier-than-expected repairs at Grundartangi, a supportive pricing backdrop, and the $200 million Hawesville proceeds all materially mitigate those issues. On balance, the positives and upside catalysts outweigh the transitory headwinds.Company Guidance
Oklahoma Smelter Partnership with EGA
Century announced a 60% EGA / 40% Century partnership to build the first new U.S. smelter in nearly 50 years, supported by a $500 million DOE grant. Bechtel was retained for next-stage engineering with a target final investment decision and groundbreaking by year-end. The project will use EGA's EX technology (expected >20% production improvement versus prior tech) and an expanded planned capacity of 750,000 metric tons, which management said would more than double total U.S. aluminum production.
Hawesville Sale and Strategic Equity Stake
Century closed the sale of the Hawesville site to TeraWulf for $200 million in cash and retained a 6.8% non-dilutive equity stake in the completed AI/data center. Management expects the equity stake to be worth well in excess of the cash proceeds based on current lease pricing and sector multiples. Century has no development funding obligation and holds a put right to sell its stake to TeraWulf on the first anniversary of operations, providing a defined liquidity/exit option.
Faster-than-expected Operational Recoveries
Management accelerated expectations for Grundartangi Line 2: repair-based restart now expected by end of April (about 6 months sooner than originally anticipated) with the smelter near full production by end of July. Mt. Holly restart is on track to begin in April and complete by end of June, supporting management's goal to increase U.S. aluminum production by nearly 10% in 2026. FY2026 shipment guidance is ~630,000 tons, with potential annualized production closer to 750,000 tons once projects are complete.
Strong Q4 Adjusted Results and Improved Cash/Leverage
Q4 consolidated shipments were ~140,000 tons. Net sales were $634 million (up $2 million sequentially). Adjusted net income was $128 million ($1.25 per share) excluding exceptional items; adjusted EBITDA was $171 million, up $70 million sequentially (approximately a 69% increase versus the prior quarter). Operating cash flow for Q4 was $170 million, year-end cash was $134 million, and net debt was reduced to $421 million (a $54 million reduction in the quarter). The company also received a $75 million production tax-related payment and reported a $173 million receivable related to 45X production tax credits.
Favorable Market Backdrop and Price Momentum
Global aluminum prices climbed to a four-year high of $3,325/ton in January with spot near $3,100/ton. Realized LME in Q4 was $2,615/ton (up $105 sequentially). Regional premiums strengthened (U.S. Midwest and European duty-paid premiums rose), and management expects lagged Q1 LME of $2,850/ton (up ~$230 versus Q4 realized) and a price-driven uplift that they estimated could add $70–$80 million to Q1 adjusted EBITDA before offsetting factors. Marking the guide to spot was described as an additional potential upside to results.
2026 Outlook and Capital Investment Discipline
Management provided FY2026 guidance: shipments ~630,000 tons, capital expenditures of $115–$125 million (including ~$45 million to restart last 90 pots at Mt. Holly). They expect cash interest expense to decline in 2026 and emphasized high-return, portfolio-level investments (Mt. Holly, Jamalco TG4). Q1 adjusted EBITDA guide is $215–$235 million, implying meaningful sequential improvement from Q4.
Operational Excellence at Sebree and Other Plants
Sebree achieved a record year across key KPIs and profitability metrics despite tough weather—management credited plant teams for record performance. Jamalco prepared effectively for Hurricane Melissa and avoided injuries and significant physical damage; the refinery is returning to stable production and will have an on-site TG4 turbine to reduce future energy costs.
CENX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CENX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $52.50 | $52.64 | +0.27% |
Nov 06, 2025 | $28.98 | $33.05 | +14.04% |
Aug 07, 2025 | $22.64 | $23.01 | +1.63% |
May 07, 2025 | $15.82 | $15.51 | -1.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Century Aluminum (CENX) report earnings?
Century Aluminum (CENX) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Century Aluminum (CENX) earnings time?
Century Aluminum (CENX) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CENX EPS forecast?
CENX EPS forecast for the fiscal quarter 2026 (Q1) is 1.62.