Century Aluminum Company reported significant financial improvements in its latest quarterly results, with net sales reaching $752.1 million for the three months ended June 30, 2026, a 19.7% increase from $628.1 million in the same period last year. The company’s net income attributable to Century stockholders was $249.3 million, compared to a net loss of $4.6 million in the prior year. For the first half of 2026, total net sales were $1.401 billion, up from $1.262 billion in the first half of 2025, while net income rose to $586.8 million from $25.1 million.
The financial performance was bolstered by favorable market conditions, including an increase in the London Metal Exchange (LME) prices and regional premiums, which contributed approximately $457.4 million to revenue. The company also benefited from a gain of $287.9 million from the sale of its Hawesville facility, completed in February 2026. This sale provided cash that is expected to be reinvested into expanding domestic aluminum production capacity, particularly at the Mt. Holly facility.
Operationally, Century Aluminum has seen a positive shift in production metrics. The company reported increased production at its Mt. Holly and Grundartangi facilities, which contributed to a favorable sales mix. The total cash and cash equivalents as of June 30, 2026, stood at $343.4 million, a significant increase from $134.2 million at the end of 2025. The company also reported a substantial rise in cash flows from operating activities, which totaled $236 million for the first half of 2026, compared to $80.2 million in the same period of 2025.
In terms of strategic developments, Century Aluminum has entered into a joint development agreement with Emirates Global Aluminium to construct a new aluminum smelter in Inola, Oklahoma, which is expected to produce 750,000 tonnes of aluminum annually. This project is anticipated to commence construction by the end of 2026, contingent upon securing a long-term power supply agreement. Additionally, the company has received $94.3 million in tax credits under the Inflation Reduction Act, further enhancing its financial position.
Looking ahead, Century Aluminum remains optimistic about its growth trajectory, driven by favorable aluminum pricing and strategic investments in production capacity. However, the company acknowledges potential risks, including fluctuations in aluminum prices and operational challenges stemming from equipment failures at its facilities. The management is focused on addressing these challenges while capitalizing on market opportunities to enhance shareholder value.
About CENTURY ALUMINUM CO
Century Aluminum Company is a global primary aluminum producer operating smelters in the U.S. and Iceland. It manufactures standard-grade and value-added aluminum products, supported by vertically integrated bauxite mining and alumina refining through its Jamalco joint venture. Serving customers primarily in the U.S. and Europe, Century leverages low-cost power sources, proximity to key markets, and a focus on sustainability and value-added products to maintain competitiveness in the global aluminum industry.
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