Century Aluminum Company Q3 2026 Earnings Recap

Century Aluminum shares rose 11.3% after earnings, as the company reported nearly $1 billion in third-quarter sales and $332 million in adjusted EBITDA, supported by higher shipments and favorable aluminum market conditions. Investors also had an update on the Oklahoma smelter project, with financing and power-contract discussions progressing toward a final investment decision.

Key Takeaways

• Third-quarter shipments were approximately 174,000 tons, up 33% sequentially, reflecting Mount Holly’s return to full capacity and the Grundartangi line 2 restart.
• Mount Holly’s production instability has been resolved; management expects full volume and normalized mix across the fourth quarter.
• Grundartangi expects to return to full nameplate production over Q1 as replacement transformers are installed and line 2 amperage increases.
• Jamalco continues to address a bauxite-quality issue; management said implementing the revised mine plan will take a few quarters. Its new turbine came online in August, helping avoid purchases from Jamaica’s expensive grid.
• Oklahoma project financing terms are largely agreed and power-contract documentation is advancing, but work with regulators and the community remains ongoing.