Century Aluminum Guides Q1 EBITDA $215–$235M, Advances $500M DOE-Backed Smelter JV
Century Aluminum posted Q4 adjusted EBITDA of $171M and net income of $128M after a 140,000-ton shipment drop, and guided Q1 EBITDA of $215–$235M. It advanced its 60/40 Oklahoma smelter JV with EGA into engineering, secured a $500M DOE grant and closed a $200M Hawesville sale.
1. Q4 Results and Q1 Outlook
Century Aluminum reported Q4 adjusted EBITDA of $171 million and adjusted net income of $128 million, reflecting a 140,000-ton shipment shortfall due to an Iceland potline outage. The company guided Q1 adjusted EBITDA of $215–$235 million, signaling improved margin prospects.
2. Oklahoma Smelter JV Progress
The Oklahoma smelter joint venture with Emirates Global Aluminium (60/40) has entered the next engineering phase under Bechtel, targeting 750,000 metric tons annual capacity. The project is backed by a $500 million DOE grant and awaits an enabling power contract and financing to trigger final investment.
3. Hawesville Site Sale
Century closed the sale of its Hawesville site for $200 million in cash and retained a non-dilutive 6.8% stake in the planned 482 MW data center campus. The company holds a one-year put right after operations commence, preserving an attractive exit option.
4. Operational Updates
Management highlighted strong performance at Sebree and Mt. Holly, and outlined recovery initiatives: installing an on-site turbine at Jamalco in April to cut power costs, and expediting the restart of Grundartangi’s Potline 2 to late April following transformer repairs.