CENTURY ALUMINUM CO (CENX) FY2025 10-K Annual Report

Filed: Mar 3, 2026
Materials
Primary Production of AluminumSEC EDGAR

CENTURY ALUMINUM CO (CENX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 3, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

CENTURY ALUMINUM CO FY2025 10-K Analysis

Business Overview

  • Core business model: Primary aluminum production with significant electric power cost exposure
  • Emphasis on managing market-based power agreements expiring 2026-2036, including LME-linked variable and fixed power rates
+3 more insights

Management Discussion & Analysis

  • Revenue impact from Hawesville facility sale: $200 million cash received plus 6.8% equity in Terawulf affiliate
  • Noted loss of approx. 84,000 tonnes alumina production in 2023 at Jamalco due to equipment failure, impacting gross margin by $30.4M
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Risk Factors

  • Regulatory risk: One Big Beautiful Bill Act 2025 phases out Section 45X tax credit starting 2031, reducing credit 25% yearly until 2034
  • Macroeconomic risk: Power supply contracts extend through 2036, exposing to energy price volatility and long-term fixed obligations
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CENTURY ALUMINUM CO FY2025 Key Financial Metrics
XBRL

Revenue

$2.5B

+13.9% YoY

Net Income

$42M

-87.6% YoY

Gross Margin

10.1%

+181bp YoY

Operating Margin

6.3%

+79bp YoY

Net Margin

1.7%

-1352bp YoY

ROE

5.2%

-4331bp YoY

Total Assets

$2.3B

+17.0% YoY

EPS (Diluted)

$0.42

-87.2% YoY

Operating Cash Flow

$185M

+852.0% YoY

Source: XBRL data from CENTURY ALUMINUM CO FY2025 10-K filing on SEC EDGAR. All figures in USD.

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