Century Aluminum(NASDAQ) CENX

Century Aluminum makes the raw metal used to build cars, airplanes, and soda cans. It runs large factories called smelters that turn minerals into solid aluminum for industrial manufacturers. These products help businesses create lightweight parts and durable packaging for everyday use.

What Century Aluminum Makes

• Primary Aluminum: Standard-grade and value-added products like billet and foundry alloy used in construction and transport; accounted for most of the 638,000 tonnes produced in 2025.
• Bauxite and Alumina: Raw materials mined and refined to create the base for aluminum production; managed through a 55% joint venture.
• Carbon Anodes: Blocks used during the smelting process to conduct electricity; produced at a dedicated facility in the Netherlands to supply internal operations.
• Natur-Al: A specific line of low-carbon aluminum made using renewable energy to meet environmental standards for global customers.

Recent Moves and Growing Pains

• Acquired a 55% interest in Jamalco in May 2023 to secure a long-term supply of alumina for its smelters.
• Entered a joint development agreement with Emirates Global Aluminium in January 2026 to build a new 750,000-tonne smelter in Oklahoma.
• Sold the curtailed Hawesville facility to Terawulf in February 2026 for $200 million and a stake in a new data center project.
• Launched a project in August 2025 to return the Mt. Holly facility to full production capacity by June 2026.

Why the Company Stands Out

The company maintains a strategic advantage by operating smelters close to major customers in the U.S. and Europe. Its Icelandic operations use 100% renewable energy to produce aluminum with one of the lowest carbon footprints in the industry.

Key Financial Facts

• Revenue reached $633.7 million in Q4 2025, up 0.4% from Q4 2024.
• Gross profit rose to $90 million in Q4 2025, a 35.7% increase year-over-year.
• Free cash flow turned positive at $67.7 million in Q4 2025, up 224% from a loss in Q4 2024.
• Net income fell to $1.8 million in Q4 2025, down 96% from $45.2 million in Q4 2024.
• Market capitalization grew to $3.8 billion by the end of 2025, up 124.1% from the previous year.

The Bottom Line

Century Aluminum has shifted from a pure smelting business toward a vertically integrated model by acquiring its own raw material supplies. Recent efforts focus on modernizing domestic production and expanding into low-carbon metal markets.