CENX earnings analysis
What we found in CENX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Century Aluminum Company reported strong Q1 2026 results with net sales of $649.2 million, surpassing estimates, and a remarkable net income attributable to stockholders of $337.5 million. The quarter showed significant improvements driven by higher metal prices and strategic transactions, with management optimistic about future growth amidst ongoing challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increase
- Net sales rose by $15.5 million from $633.7 million in Q4 2025 to $649.2 million in Q1 2026.
- Dramatic EPS Growth
- Diluted EPS soared to $3.23 compared to just $0.02 in Q4 2025.
- Successful Sale of Hawesville
- Completed sale of Hawesville facility for $200 million, enhancing liquidity.
- Gain from Insurance Proceeds
- Received $33 million in insurance proceeds related to equipment failure.
- Improved Gross Margin
- Gross profit increased by $28.2 million sequentially to $118.8 million.
- Strong Liquidity Position
- As of March 31, 2026, liquidity stands at $611 million, up from $134.2 million in Q4 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Equipment Failure Impact
- Grundartangi faced a transformer failure causing production reductions, affecting revenue nearly $54 million.
- Derivatives Losses
- Q1 2026 saw a net loss on forward and derivative contracts increase by $65.3 million.
- Market Volatility Risks
- Fluctuations in aluminum prices, including LME which reached $3,191 per tonne, present ongoing risks.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $3.23
- Gross margin
- 18.3%
What they said about what is next.
Management expects continued strong results driven by metal pricing dynamics.
The filing reads better than the one before it.
What came before.
- 10-K · March 3, 2026
- Century Aluminum (CENX) is pursuing a growth strategy focused on expanding U.S. primary aluminum capacity and decommoditizing its product mix (Natur-Al, value-added products) while preserving a strong balance sheet. Key…
- 10-Q · November 6, 2025
- Century Aluminum reported Q3 2025 net sales of $632.2 million, up from $539.1 million in Q3 2024, while gross profit declined to $77.3 million and operating income fell to $58.3 million. Diluted EPS was $0.15 in Q3 2025…
- 10-Q · August 7, 2025
- Century Aluminum reported Q2 2025 net sales of $628.1 million, up $67.3 million (12.0%) versus Q2 2024, while gross profit improved to $36.2 million. Operating income rose to $20.7 million, but the company reported a…
- 10-Q · May 8, 2025
- Century Aluminum reported a decline in Q1 2025, with revenue at $634 million, slightly higher than the previous quarter but down from $490 million in Q1 2024. The company experienced a gross margin of 9.6%, an uptick…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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