Mon, Mar 3, 10:28 PM (54 days ago)
**Century Aluminum Company (CENX) 2024 10-K Summary:** For the fiscal year ended December 31, 2024, Century Aluminum reported net sales of $2,220.3 million, an increase from $2,185.4 million in 2023, driven by higher alumina sales and improved aluminum pricing. Gross profit surged to $185 million, up from $91.9 million, aided by favorable raw material pricing and the Inflation Reduction Act (IRA) manufacturing credit. The company recorded a bargain purchase gain of $245.9 million from acquiring a 55% interest in Jamalco, which produced 1.1 million tonnes of alumina in 2024. Operating expenses rose to $56.8 million, reflecting increased share-based compensation and project evaluations. Net income attributable to Century stockholders reached $336.8 million, translating to earnings per share of $3.44. The company maintained a strong liquidity position with $32.9 million in cash and $211.6 million in unused credit facilities. Key risks include fluctuations in aluminum prices, energy costs, and supply chain disruptions. Century continues to explore options for its curtailed Hawesville facility and is focused on sustainability initiatives. The company faces challenges in managing its debt, with $528.2 million outstanding, including senior secured and convertible notes. Overall, Century Aluminum is positioned for growth amid a volatile market, supported by strategic investments and operational improvements.