Century Aluminum (CENX) FY2025 results: revenue $2.5 billion, up 13.9% on the year
Century Aluminum Co. (CENX) reported revenue of $2.5 billion for fiscal 2025, the year ended 31 December 2025, up 13.9% on the year before. Net income was $42 million, down 87.6%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2026.
Revenue
$2.5 billion
+13.9% on the year
FY2018FY2025
Operating margin
6.3%
4.9% a year earlier
FY2018FY2025
Net income
$42 million
-87.6% on the year
FY2018FY2025
Diluted EPS
$0.42
-87.2% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 2 new.
Reported net income fell to $1.8 million: Reported net income attributable to Century stockholders was $1.8 million, or $0.02 per diluted share, against $14.9 million in the third quarter. Adjusted net income was $128.2 million, or $1.25 per share.
Adjusted EBITDA rose $69.5 million sequentially: Adjusted EBITDA attributable to Century stockholders was $170.6 million, up from $101.1 million in the third quarter.
Primary shipments down 14% sequentially: Primary aluminum shipments were 140,257 tonnes in the fourth quarter. The company attributed the decline to idled production at its Iceland facility due to equipment failure.
Iceland equipment failure cost $30.9 million: Fourth-quarter net exceptional items totaled $126.4 million. The largest was $30.9 million, net of tax, related to the Iceland equipment failure.
Winter storm energy costs partly offset: First-quarter 2026 guidance reflects improved metal pricing and regional premiums, partly offset by temporary higher United States energy costs from Winter Storm Fern.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
185
-24.6
106
Capital expenditure
100
82.3
95.0
+21.7%
Free cash flow
84.8
-107
10.6
Free cash flow margin
3.4%
-4.8%
0.5%
Cash from investing
-100
-80.0
-57.8
Cash from financing
15.1
50.0
-13.0
-69.8%
Depreciation and amortisation
91.8
86.7
79.0
+5.9%
Share-based compensation
47.0
15.4
6.6
+205.2%
Diluted shares, weighted
95m
98m
92m
-3.2%
Shares outstanding at period end
99m
93m
93m
+6.1%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
806
694
356
+16.0%
Non-controlling interest
124
111
148
+12.0%
Debt
548
528
479
+3.8%
Operating lease liabilities
22.0
18.7
21.9
+17.6%
Other liabilities
769
768
1,024
+0.2%
Total liabilities and equity
2,269
2,120
2,029
+7.0%
Fixed assets
1,168
1,150
1,184
+1.5%
Cash and equivalents
134
32.9
88.8
+307.9%
Receivables
110
75.8
53.7
+45.0%
Inventory
520
539
477
-3.6%
Other assets
338
322
225
+4.8%
Total assets
2,269
2,120
2,029
+7.0%
10-K for the year ended 31 December 2025, filed 3 March 2026: the filing.