Century Aluminum Reports Mixed Q2 2026: Higher Sales Offset by Lower Net Income — Century Aluminum Company

Event summary

Q2 2026 net sales increased by $102.9 million sequentially to $752.1 million, driven by higher aluminum shipments and realized metal prices.
Net income attributable to Century decreased by $88.2 million sequentially to $249.3 million due to a one-time gain on the sale of Hawesville in Q1 2026.
Adjusted EBITDA increased by $95.5 million sequentially to $326.9 million, primarily from favorable realized metal prices and operating expenses.
Completed restart of last 90 pots at Mt. Holly and returned Line 2 at Grundartangi to near full production.
Received a $94.3 million refund in July 2026 related to the 2025 45X tax provision.

The big picture

Century Aluminum's Q2 2026 results reflect a mixed performance, with higher sales offset by lower net income due to one-time gains in the previous quarter. The company's strategic focus on operational efficiency and cost management is critical amid volatile market conditions and ongoing investments in expansion projects. Century's ability to navigate these challenges will be key to maintaining its competitive position in the aluminum industry.

What we're watching

Operational Efficiency: Whether Century can sustain improved operational efficiency and power price realization in the face of equipment failures and weather conditions.
Market Dynamics: How fluctuations in aluminum prices, raw material costs, and regional premiums will impact Century's profitability moving forward.
Strategic Investments: The pace at which Century can complete its new smelter project and secure necessary funding and power arrangements.