Century Aluminum Company reported its financial results for the second quarter and first half of 2025, revealing a total net sales of $628.1 million for the three months ended June 30, 2025, compared to $560.8 million for the same period in 2024. For the first half of 2025, net sales reached $1.262 billion, up from $1.050 billion in the prior year. The increase in revenue was primarily driven by favorable realized prices for aluminum and alumina, with the company benefiting from a significant rise in the Midwest premium due to recent tariff increases on imported aluminum.
Despite the increase in sales, Century Aluminum reported a net loss of $9.1 million for the second quarter of 2025, compared to a loss of $6.7 million in the same quarter of 2024. The company attributed the loss to unfavorable raw material price realizations and increased operational costs, including maintenance and potlining expenses. For the first half of 2025, the net income was $16.6 million, a significant decline from $238 million in the previous year, which included a one-time bargain purchase gain of $245.9 million from the acquisition of a 55% interest in the Jamalco alumina refinery.
Operationally, Century Aluminum's production facilities in the U.S. and Iceland maintained stable output levels, with shipments of primary aluminum totaling 175,741 tonnes in the second quarter of 2025. The company continues to leverage its vertical integration model, utilizing alumina produced from its Jamalco joint venture, which has a production capacity of approximately 1.4 million tonnes. The company reported a gross profit of $36.2 million for the second quarter, down from $60.6 million in the previous quarter, reflecting the impact of rising costs and lower margins.
In terms of strategic developments, Century Aluminum has been actively pursuing growth opportunities, including a recent agreement with the U.S. Department of Energy for up to $500 million in funding to build a new aluminum smelter, marking the first new facility of its kind in the U.S. in 45 years. The company also amended its U.S. revolving credit facility, extending its maturity to July 2027, which enhances its liquidity position. As of June 30, 2025, Century Aluminum had cash and cash equivalents of approximately $40.7 million and unused availability under its credit facilities of $321.8 million.
Looking ahead, Century Aluminum anticipates that the recent increases in aluminum tariffs will continue to positively impact its financial performance. However, the company remains cautious about potential fluctuations in raw material prices and energy costs, which could affect its profitability. Management is focused on addressing operational challenges and optimizing its supply chain to enhance efficiency and reduce costs in the coming quarters.
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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