Century Aluminum Company 4 th Quarter Earnings Call February 20, 2025 Cautionary Statement Certain statements in this presentation, and those made by Century Aluminum Company management on the quarterly conference call, relate to future events and expectations and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "schedule ...

Financial Performance - Fourth quarter 2024 net sales increased by 17% sequentially to $631.0 million, driven by higher third-party alumina sales and improved aluminum prices[4]. - Net income attributable to Century stockholders for Q4 2024 was $47.7 million, a slight increase from $47.3 million in Q3 2024, with adjusted net income of $45.9 million[5]. - Full year 2024 net sales reached $2.2 billion, up from $2.185 billion in 2023, with a reported net income of $339.4 million compared to a loss of $43.1 million in 2023[6]. - Adjusted EBITDA for Q4 2024 was $82.4 million, a decrease of $21.3 million sequentially, while full year adjusted EBITDA increased by $125.2 million to $245.2 million[10]. - Full year 2024 results included a $245.9 million bargain purchase gain from the Jamalco acquisition, significantly impacting net income[9]. - Gross profit for the same period rose significantly to $186.4 million, compared to $91.9 million in 2023, marking an increase of 102.5%[19]. - Net income attributable to Century stockholders for 2024 was $339.4 million, a substantial recovery from a net loss of $43.1 million in 2023[19]. - Basic earnings per share for 2024 was $3.46, compared to a loss per share of $0.47 in 2023[19]. - Adjusted net income attributable to Century stockholders for the twelve months ended December 31, 2024, was $339.4 million, resulting in an EPS of $3.66, a significant recovery from a net loss of $43.1 million in the previous year[27]. - Operating income for the twelve months ended December 31, 2024, was $122.8 million, a substantial increase from $31.8 million in the previous year[27]. Sales and Shipments - Shipments of primary aluminum for Q4 2024 were 166,677 tonnes, a 1% decrease from Q3 2024, and full year shipments decreased by 3% to 677,967 tonnes[4]. - Shipments of primary aluminum for the full year 2024 totaled 677,967 tonnes, generating sales of $1,867.9 million, compared to 700,680 tonnes and $1,966.0 million in 2023[24]. Assets and Liabilities - Total current assets increased to $802.8 million in 2024 from $767.1 million in 2023, reflecting a growth of 4.1%[21]. - Total liabilities decreased significantly from $1,502.4 million in 2023 to $1,261.4 million in 2024, a reduction of 16.0%[21]. - The company reported a total equity of $678.0 million as of December 31, 2024, up from $344.1 million in 2023, indicating a growth of 96.9%[21]. - Cash and cash equivalents at the end of 2024 were $32.9 million, down from $88.8 million in 2023, a decrease of 63.0%[21]. Future Outlook - The company expects first quarter 2025 Adjusted EBITDA to range between $75 to $85 million, influenced by improved metal pricing and regional premiums[11]. - Century was awarded a $500 million grant by the U.S. Department of Energy to build a new aluminum smelter, indicating significant future growth potential[6]. Other Financial Metrics - The company experienced a net cash used in operating activities of $24.6 million in 2024, a decline from net cash provided of $105.6 million in 2023[23]. - Interest expense for the twelve months ended December 31, 2024, was $36.4 million, slightly up from $33.7 million in the previous year[27]. - Share-based compensation increased to $5.3 million for the three months ended December 31, 2024, compared to $3.2 million in the previous quarter[26]. - Adjusted EBITDA for the three months ended December 31, 2024, was $82.4 million, down from $103.7 million in the previous quarter[26]. - Adjusted net income for the three months ended December 31, 2024, was $45.9 million, down from $60.0 million in the previous quarter[26]. - The impact of Hurricane Beryl at Jamalco resulted in incremental costs, with Century's share amounting to $6.9 million for the twelve months ended December 31, 2024[27].

Core Insights - Century Aluminum Company reported strong financial results for Q4 and FY 2024, with significant improvements in net income and adjusted EBITDA compared to the previous year [4][11][12]. Q4 2024 Highlights - Shipments of primary aluminum totaled 166,677 tonnes, a slight decrease of 1% from Q3 2024 [6][30]. - Net sales increased by 17% sequentially to $631.0 million, driven by higher third-party alumina sales and improved aluminum prices [6][8]. - Net income attributable to Century stockholders was $47.7 million, a $0.4 million improvement from Q3 2024 [7][8]. - Adjusted net income for Q4 was $45.9 million, reflecting a $14.1 million decrease sequentially [7][8]. - Adjusted EBITDA for Q4 was $82.4 million, down $21.3 million from Q3 2024 due to updated U.S. Treasury guidance [8][9]. Full Year 2024 Highlights - Total shipments of primary aluminum for FY 2024 were 677,967 tonnes, a 3% decrease from FY 2023 [10][30]. - Net sales for FY 2024 reached $2.22 billion, an increase of $34.9 million from FY 2023 [10][11]. - Net income attributable to Century stockholders was $339.4 million, a significant improvement of $382.5 million from FY 2023 [11][12]. - Adjusted net income for FY 2024 was $104.0 million, up $73.3 million from the previous year [11][12]. - Adjusted EBITDA for FY 2024 was $245.2 million, an increase of $125.2 million compared to FY 2023, primarily due to higher metal prices [12]. Financial Position - As of December 31, 2024, Century had cash and cash equivalents of $32.9 million and total liquidity of $244.5 million [8][9]. - The company recorded a Section 45X production tax credit of $92.6 million, enhancing its financial position [8][9]. - Century was selected by the U.S. Department of Energy to receive a $500 million grant for building a new aluminum smelter [8][9]. Operational Developments - Century achieved the highest annual production volume at its Sebree, KY facility in the past five years [8]. - The company completed an expansion project at its Iceland billet casthouse, increasing its value-added product offerings [8].

Core Points - Century Aluminum Company (NASDAQ: CENX) is scheduled to report its fourth quarter 2024 earnings on February 20, 2025, after market close [1] - A follow-up conference call will take place on the same day at 5:00 p.m. Eastern time [1] - The earnings call will be available for live webcast on the company's website, with a replay accessible approximately two hours after the live event [2] Company Information - The earnings release will be disseminated through GlobeNewswire [1] - Registration for the live call should begin at least 10 minutes prior to the scheduled start time [2] - Investor contact for inquiries is Ryan Crawford, reachable at investorrelations@centuryaluminum.com or (312) 696-3132 [2] - Media contact is Tawn Earnest, available at (614) 698-6351 [2]

Core Viewpoint - Century Aluminum Company supports President Trump's executive order to impose a 25% tariff on all primary aluminum imports, aiming to protect U.S. jobs and national security [1][2]. Group 1: Tariff Implementation - The executive order implements a 25% tariff on all primary aluminum imports into the U.S. from foreign countries, closing a loophole that allowed nearly 75% of imports to avoid tariffs [2]. - This action is expected to protect American jobs and enhance national security [2]. Group 2: Company Position - Century Aluminum's CEO, Jesse Gary, expressed strong support for the tariff, stating it will help level the playing field for American aluminum workers [2]. - The company emphasizes that the strengthened tariffs will drive the resurgence of domestic aluminum production [3]. Group 3: Company Overview - Century Aluminum is the largest domestic producer of primary aluminum in the United States and operates production facilities in Iceland, the Netherlands, and Jamaica [4].

CHICAGO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ:CENX) strongly supports President Donald Trump’s decisive action today to strengthen Section 232 tariffs and fight back against unfair trade practices that have for years disadvantaged the U.S. primary aluminum industry. Today’s executive order implements a 25% tariff on all primary aluminum imports into the U.S. from all foreign countries and closes a loophole in the existing tariff that allowed nearly 75% of imports to avoid the t ...

Century Aluminum (CENX) has been beaten down lately with too much selling pressure. While the stock has lost 19.4% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator t ...

Century Aluminum Company (CENX) is benefiting from strong demand in a variety of intermediate and end markets, driven by robust manufacturing operations, particularly in the United States.Century Aluminum Stock’s Price PerformanceShares of Century Aluminum have shot up 51.6% in the past year against a 33.5% decline of the industry.Image Source: Zacks Investment ResearchStrong Demand, Acquisitions to Aid CENXCentury Aluminum is well-positioned to benefit from an uptick in global aluminum demand, which is exc ...

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