Century Aluminum Co 10-Q for FY2026 Q3

Century Aluminum Co (CENX)

10-Q 2026-11-05 For: 2026-09-30

Added on November 05, 2026

About this 10-Q

Century Aluminum Co filed this 10-Q on November 5, 2026, covering the quarter ended September 30, 2026 (FY2026 Q3).

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $961.2M; up 52.0% from $632.2M a year earlier
Net income: $302.6M; up 1930.9% from net income of $14.9M a year earlier
Diluted EPS: $2.89; up 1826.7% from $0.15 a year earlier

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Delaware			13-3070826
(State or other jurisdiction of incorporation or organization)			(IRS Employer Identification No.)
One South Wacker Drive			60606
Suite 1000			(Zip Code)
Chicago, Illinois
(Address of principal executive offices)


Title of each class:	Trading Symbol(s)	Name of each exchange on which registered:
Common Stock, $0.01 par value per share	CENX	Nasdaq Stock Market LLC
		(Nasdaq Global Select Market)


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐


TABLE OF CONTENTS
			Page
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements			3
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			32
Item 3. Quantitative and Qualitative Disclosures about Market Risk			40
Item 4. Controls and Procedures			41

PART II - OTHER INFORMATION
Item 1. Legal Proceedings			42
Item 1A. Risk Factors			42
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			42
Item 5. Other Information			42
Item 6. Exhibits			43
SIGNATURES			44


CENTURY ALUMINUM COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
			(As Restated)				(As Restated)
Net sales
Related parties	$	491.6	$	319.6	$	1,128.4	$	1,065.9
Other customers	469.6		312.6		1,234.1		828.3
Total net sales	961.2		632.2		2,362.5		1,894.2
Cost of goods sold (1)	658.3		557.3		1,712.9		1,728.4
Gross profit	302.9		74.9		649.6		165.8
Selling, general and administrative expenses	10.8		17.9		52.5		44.4
Gain on the sale of Hawesville	—		—		(287.9)		—

Other operating (income) expenses -net	(0.2)		1.1		7.2		4.6
Operating income	292.3		55.9		877.8		116.8
Interest expense - nonaffiliates	(8.9)		(11.5)		(28.4)		(31.3)
Interest expense - affiliates	(0.5)		(1.5)		(1.7)		(5.2)
Interest income	5.1		2.8		12.7		6.5
Net gain (loss) on forward and derivative contracts - nonaffiliates	10.8		(30.2)		(47.5)		(51.2)

Loss on early extinguishment of debt	—		(6.2)		—		(6.2)
Gain on insurance proceeds - net	15.9		—		89.0		—
Other loss - net	(0.8)		(2.2)		(2.3)		(11.3)
Income before income taxes	313.9		7.1		899.6		18.1
Income tax (expense) benefit	(11.6)		1.1		(25.5)		0.8
Equity in losses of unconsolidated subsidiaries	—		—		(1.0)		—
Net income	302.3		8.2		873.1		18.9
Net loss attributable to noncontrolling interests	(0.3)		(6.7)		(16.3)		(21.1)
Net income attributable to Century stockholders	302.6		14.9		889.4		40.0
Less: net income allocated to participating securities	—		0.8		—		2.0
Net income allocated to common stockholders	$	302.6	$	14.1	$	889.4	$	38.0
(1) Purchases from related party were $125.5 million and $90.7 million for the three months ended September 30, 2026 and 2025, respectively. Purchases from related party were $294.0 million and $230.8 million for the nine months ended September 30, 2026 and 2025, respectively.

Net income attributable to Century stockholders per common share:
Basic	$	3.06	$	0.15	$	8.98	$	0.41
Diluted	$	2.89	$	0.15	$	8.50	$	0.40
Weighted-average common shares outstanding:
Basic	99.0		93.3		99.0		93.3
Diluted	105.2		99.2		105.3		94.6


CENTURY ALUMINUM COMPANY
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(in millions)
(Unaudited)
	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
			(As Restated)				(As Restated)
Comprehensive income:
Net income	$	302.3	$	8.2	$	873.1	$	18.9
Other comprehensive income before income tax effect:
Net gain on foreign currency cash flow hedges reclassified as income	—		—		(0.1)		(0.1)
Defined benefit plans and other postretirement benefits:
Net gain arising during the period	2.3		—		13.6		—
Amortization of prior service (cost) benefit during the period	(0.1)		0.1		0.2		0.2
Amortization of net loss during the period	0.8		1.4		2.2		4.6
Other comprehensive income before income tax effect	3.0		1.5		15.9		4.7
Income tax effect	—		—		—		—
Other comprehensive income	3.0		1.5		15.9		4.7
Comprehensive income	305.3		9.7		889.0		23.6
Comprehensive income (loss) attributable to noncontrolling interests	0.8		(6.7)		(9.9)		(21.2)
Comprehensive income attributable to Century stockholders	$	304.5	$	16.4	$	898.9	$	44.8


CENTURY ALUMINUM COMPANY
CONSOLIDATED BALANCE SHEETS
(in millions)
(Unaudited)
	September 30, 2026		December 31, 2025
ASSETS
Cash and cash equivalents	$	713.0	$	134.2
Restricted cash	41.6		1.4
Accounts receivable - net	102.6		109.9
Non-trade receivables	18.3		38.1
Due from affiliates	42.0		29.6
Manufacturing credit receivable	162.0		172.6
Inventories	612.6		519.6
Derivative assets	11.4		1.5
Prepaid and other current assets	22.9		24.4
Total current assets	1,726.4		1,031.3
Property, plant and equipment - net	1,264.1		1,167.6



Other assets	181.6		70.4
Total assets	$	3,172.1	$	2,269.3
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accounts payable, trade	$	255.2	$	187.2

Accrued compensation and benefits	76.2		74.4
Due to affiliates	49.0		70.8
Accrued and other current liabilities	35.5		35.6
Derivative liabilities	50.4		58.2


Carbon credit repurchase liability	34.1		28.6
Current maturities of long-term debt	—		68.8
Total current liabilities	500.4		523.6
Long-term debt	480.3		479.5

Accrued benefits costs - less current portion	81.8		97.7
Other liabilities	112.9		104.9

Deferred taxes	79.5		58.4
Asset retirement obligations - less current portion	70.6		75.3
Total noncurrent liabilities	825.1		815.8
COMMITMENTS AND CONTINGENCIES (NOTE 13)
SHAREHOLDERS’ EQUITY:
Preferred stock (Note 14)	—		—
Common stock (Note 14)	1.1		1.1
Additional paid-in capital	2,578.9		2,571.5
Treasury stock, at cost	(86.3)		(86.3)
Accumulated other comprehensive loss	(45.7)		(55.2)
Accumulated deficit	(736.0)		(1,625.5)
Total Century shareholders’ equity	1,712.0		805.6
Noncontrolling interests	134.6		124.3
Total equity	1,846.6		929.9
Total liabilities and equity	$	3,172.1	$	2,269.3


CENTURY ALUMINUM COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
(Unaudited)
	Nine months ended September 30,
	2026		2025
			(As Restated)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	873.1	$	18.9
Adjustments to reconcile Net income to net cash provided by operating activities:
Unrealized (gain) loss on derivative instruments	(25.6)		35.2

Depreciation, depletion and amortization	60.9		70.0
Share-based compensation	10.8		14.2
Net periodic benefit cost	11.7		9.2
Change in deferred tax provision	21.8		(1.2)
Loss on early extinguishment of debt	—		6.2
Gain on the sale of Hawesville	(287.9)		—

Gain on insurance proceeds received for property damage	(3.6)		—

Other non-cash items - net	4.8		(3.2)
Change in operating assets and liabilities:
Accounts receivable	(11.7)		(27.3)
Non-trade receivables	14.7		12.6
Manufacturing credit receivable	10.6		(68.5)
Due from affiliates	(12.4)		9.4
Inventories	(93.3)		(16.6)
Prepaid and other current assets	1.5		3.7
Accounts payable, trade	95.5		34.8
Due to affiliates	(21.8)		(6.9)
Accrued and other current liabilities	(1.1)		0.6
Ravenswood retiree medical settlement	(2.0)		(2.0)

Other - net	(15.1)		(6.8)
Net cash provided by operating activities	630.9		82.3
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(172.2)		(65.1)
Proceeds from the sale of property, plant and equipment	0.1		—
Proceeds from the sale of Hawesville	200.0		—

Insurance proceeds received for property damage	13.6		—
Net cash provided by (used in) investing activities	41.5		(65.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of Senior Notes due 2028	—		(250.0)
Early redemption premiums paid	—		(4.7)
Proceeds from issuance of Senior Notes due 2032	—		400.0
Payment of deferred financing fees	—		(6.3)
Borrowings under revolving credit facilities	265.0		712.8
Repayments under revolving credit facilities	(326.1)		(750.2)



Repayments of Industrial Revenue Bonds	(7.8)		—
Repayments under Grundartangi casthouse debt facility	—		(6.8)
Payment of share-based compensation withholding taxes	(4.7)		—
Repayments under Vlissingen facility agreement	—		(10.0)
Contributions from joint venture partner	15.3		15.4
Carbon credit proceeds	34.4		28.1
Carbon credit repayments	(29.5)		(28.3)
Net cash (used in) provided by financing activities	(53.4)		100.0
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	619.0		117.2
Cash, cash equivalents and restricted cash, beginning of period	135.6		35.7
Cash, cash equivalents and restricted cash, end of period	$	754.6	$	152.9


CENTURY ALUMINUM COMPANY
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(in millions, except share data)
(Unaudited)
	Preferred stock			Common stock			Additional paid-in capital		Treasury stock, at cost		Accumulated other comprehensive loss		Accumulated deficit		Total Century equity		Noncontrolling Interest		Total equity
	Shares	Amount		Shares	Amount
Three months ended September 30, 2026
Balance, June 30, 2026	—	$	—	98,993,295	$	1.1	$	2,574.5	$	(86.3)	$	(47.6)	$	(1,038.6)	$	1,403.1	$	131.4	$	1,534.5
Net income (loss)	—	—		—	—		—		—		—		302.6		302.6		(0.3)		302.3
Other comprehensive income	—	—		—	—		—		—		1.9		—		1.9		1.1		3.0
Share-based compensation	—	—		—	—		4.4		—		—		—		4.4		—		4.4
Contributions from noncontrolling interest	—	—		—	—		—		—		—		—		—		2.4		2.4
Balance, September 30, 2026	—	$	—	98,993,295	$	1.1	$	2,578.9	$	(86.3)	$	(45.7)	$	(736.0)	$	1,712.0	$	134.6	$	1,846.6

Three months ended September 30, 2025
Balance, June 30, 2025 (As Restated)	49,514	$	—	93,339,121	$	1.0	$	2,552.0	$	(86.3)	$	(100.1)	$	(1,642.2)	$	724.4	$	123.0	$	847.4
Net income (loss)	—	—		—	—		—		—		—		14.9		14.9		(6.7)		8.2
Other comprehensive income	—	—		—	—		—		—		1.5		—		1.5		—		1.5
Share-based compensation	—	—		—	—		1.0		—		—		—		1.0		—		1.0
Conversion of preferred stock to common stock	(28)	—		2,848	—		—		—		—		—		—		—		—
Contributions from noncontrolling interest	—	—		—	—		—		—		—		—		—		0.7		0.7
Balance, September 30, 2025 (As Restated)	49,486	$	—	93,341,969	$	1.0	$	2,553.0	$	(86.3)	$	(98.6)	$	(1,627.3)	$	741.8	$	117.0	$	858.8


	Three months ended September 30, 2025
	As Previously Reported		Restatement Impacts		As Restated
Cost of Goods Sold	$	554.9	$	2.4	$	557.3
Gross profit	77.3		(2.4)		74.9
Operating income	58.3		(2.4)		55.9
Income before income taxes	9.5		(2.4)		7.1

Net income	10.6		(2.4)		8.2
Net loss attributable to noncontrolling interests	(4.3)		(2.4)		(6.7)
Net income attributable to Century stockholders	14.9		—		14.9
Less: Net income allocated to participating securities	0.8		—		0.8
Net income allocated to common stockholders	$	14.1	$	—	$	14.1


	September 30, 2025
	As Previously Reported		Restatement Impacts		As Restated
ASSETS
Non-trade receivables	$	—	$	19.8	$	19.8
Total current assets	1,027.1		19.8		1,046.9
Property, plant and equipment - net	972.2		167.0		1,139.2
Other assets	71.1		0.9		72.0
TOTAL	$	2,134.2	$	187.7	$	2,321.9
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Accrued compensation and benefits	$	52.4	$	1.0	$	53.4
Non-trade payables	11.8		(11.8)		—
Accrued and other current liabilities	73.6		3.2		76.8
Total current liabilities	599.1		(7.6)		591.5
Accrued benefits costs - less current portion	121.8		14.5		136.3
Asset retirement obligations - less current portion	63.9		19.4		83.3
Total noncurrent liabilities	837.7		33.9		871.6

SHAREHOLDERS’ EQUITY:
Noncontrolling interests	(44.4)		161.4		117.0
Total equity	697.4		161.4		858.8
TOTAL	$	2,134.2	$	187.7	$	2,321.9


Three months ended September 30, 2025
(As Previously Reported)	Noncontrolling interest		Total equity
Balance, June 30, 2025	$	(40.1)	$	684.3
Net income (loss)	(4.3)		10.6
Other comprehensive income (loss)	—		1.5
Share-based compensation	—		1.0
Contributions from noncontrolling interest	—		—
Balance, September 30, 2025	$	(44.4)	$	697.4

(Restatement Impacts)
Net income (loss)	$	(2.4)	$	(2.4)
Contributions from noncontrolling interest	0.7		0.7

(As Restated)
Balance, June 30, 2025	$	123.0	$	847.4
Net income (loss)	(6.7)		8.2
Other comprehensive income (loss)	—		1.5
Share-based compensation	—		1.0
Contributions from noncontrolling interest	0.7		0.7
Balance, September 30, 2025	$	117.0	$	858.8


Net Sales(1)	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
United States	$	643.4	$	435.8	$	1,836.2	$	1,241.4
Iceland	317.8		196.4		526.3		652.8
Total	$	961.2	$	632.2	$	2,362.5	$	1,894.2


	For the three months ended September 30,
	2026					2025
	Net Income		Shares (in millions)	$ Per Share		Net Income		Shares (in millions)	$ Per Share
Net income attributable to Century stockholders	$	302.6				$	14.9
Less: net income allocated to participating securities	—					0.8
Basic EPS:
Net income allocated to common stockholders	$	302.6	99.0	$	3.06	$	14.1	93.3	$	0.15
Effect of Dilutive Securities(1):
Share-based compensation	1.1		1.6			—		1.3
Convertible senior notes	0.7		4.6			0.7		4.6
Diluted EPS:
Net income allocated to common stockholders	$	304.4	105.2	$	2.89	$	14.8	99.2	$	0.15

	For the nine months ended September 30,
	2026					2025
	Net Income		Shares (in millions)	$ Per Share		Net Income		Shares (in millions)	$ Per Share
Net income attributable to Century stockholders	$	889.4				$	40.0
Less: net income allocated to participating securities	—					2.0
Basic EPS:
Net income allocated to common stockholders	$	889.4	99.0	$	8.98	$	38.0	93.3	$	0.41
Effect of Dilutive Securities(1):
Share-based compensation	3.3		1.7			—		1.3
Convertible senior notes	2.0		4.6			—		—
Diluted EPS:
Net income allocated to common stockholders	$	894.7	105.3	$	8.50	$	38.0	94.6	$	0.40


Securities excluded from the calculation of diluted EPS (in millions)(1):	Three months ended September 30,		Nine months ended September 30,
	2026	2025	2026	2025
Share-based compensation	—	0.7	—	0.7
Convertible preferred shares	—	5.0	—	5.0
Convertible senior notes	—	—	—	4.6


	February 2, 2026
Sales comparison approach
Adjusted price per megawatt	$0.4 - $0.6

Scenario-based approach with the Black-Scholes option pricing model
Discount rate	7.45% - 7.64%
Expected term (years)	3 - 5
Equity volatility	108% - 117%
Dividend yield	—	%


	Liability Fair Value
	September 30, 2026		December 31, 2025
Commodity contracts(1)	$	58.1	$	66.0


	September 30, 2026		December 31, 2025
Debt classified as current liabilities:
Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly(1)	$	—	$	7.8
U.S. Revolving Credit Facility(2)	—		—
Iceland Revolving Credit Facility(3)	—		61.0



Debt classified as non-current liabilities:



2.75% convertible senior notes due May 1, 2028, net of financing fees of $0.6 million at September 30, 2026, interest payable semiannually	85.7		85.5
6.875% senior secured notes due August 1, 2032, net of financing fees of $5.4 million at September 30, 2026, interest payable semiannually	394.6		394.0
Total	$	480.3	$	548.3


Year						Percentage
2028						103.438%
2029						101.719%
2030 and Thereafter						100.000%


Components of AOCL:	September 30, 2026		December 31, 2025
Defined benefit plan liabilities	$	(49.1)	$	(58.7)
Unrealized gain on financial instruments	1.0		1.2
Other comprehensive loss before income tax effect	(48.1)		(57.5)
Income tax effect(1)	2.4		2.3
Accumulated other comprehensive loss	$	(45.7)	$	(55.2)


	Defined benefit plan and other postretirement liabilities		Unrealized gain on financial instruments		Total, net of tax
Balance, June 30, 2026	$	(48.6)	$	1.0	$	(47.6)
Other comprehensive loss before reclassifications	1.3		—		1.3
Net amount reclassified to net income (loss)	0.6		—		0.6
Balance, September 30, 2026	$	(46.7)	$	1.0	$	(45.7)

Balance, June 30, 2025	$	(101.3)	$	1.2	$	(100.1)

Net amount reclassified to net income (loss)	1.5		—		1.5
Balance, September 30, 2025	$	(99.8)	$	1.2	$	(98.6)

Balance, December 31, 2025	$	(56.4)	$	1.2	$	(55.2)
Other comprehensive loss before reclassifications	7.6		(0.1)		7.5
Net amount reclassified to net income (loss)	2.1		(0.1)		2.0
Balance, September 30, 2026	$	(46.7)	$	1.0	$	(45.7)

Balance, December 31, 2024	$	(104.6)	$	1.3	$	(103.3)

Net amount reclassified to net income (loss)	4.8		(0.1)		4.7
Balance, September 30, 2025	$	(99.8)	$	1.2	$	(98.6)


		Three months ended September 30,				Nine months ended September 30,
AOCL Components	Location	2026		2025		2026		2025
Defined benefit plan and other postretirement liabilities	Cost of goods sold	$	0.4	$	0.6	$	2.1	$	2.2
	Selling, general and administrative expenses	0.4		0.1		0.5		0.4
	Other operating expense - net	(0.2)		0.8		(0.5)		2.2
	Income tax effect	—		—		—		—
	Net of tax	$	0.6	$	1.5	$	2.1	$	4.8

Unrealized gain on financial instruments	Cost of goods sold	$	—	$	—	$	(0.1)	$	(0.1)
	Income tax effect	—		—		—		—
	Net of tax	$	—	$	—	$	(0.1)	$	(0.1)



	Three months ended September 30,				Nine months ended September 30,
Pension Benefits	2026		2025		2026		2025
Service cost	$	1.2	$	0.6	$	5.9	$	1.9
Interest cost	5.0		3.8		21.5		10.6
Expected return on plan assets	(5.2)		(3.3)		(19.9)		(11.2)
Amortization of prior service benefit	(0.1)		0.1		0.2		0.2
Amortization of net loss	1.3		0.9		3.8		3.8
Net periodic benefit cost	$	2.2	$	2.1	$	11.5	$	5.3


	Three months ended September 30,				Nine months ended September 30,
Other Postretirement Benefits	2026		2025		2026		2025
Service cost	$	—	$	—	$	0.2	$	0.1
Interest cost	0.5		1.2		1.6		3.1

Amortization of net (gain) loss	(0.5)		0.4		(1.6)		0.7

Net periodic benefit cost	$	—	$	1.6	$	0.2	$	3.9


	September 30, 2026		December 31, 2025
Raw materials	$	208.0	$	161.5
Work-in-process	81.8		52.2
Finished goods	49.0		36.5
Operating and other supplies	273.8		269.4
Total inventories	$	612.6	$	519.6


Recurring Fair Value Measurements	As of September 30, 2026
	Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents	$	601.1	$	—	$	—	$	601.1
Trust assets(1)	0.3		—		—		0.3

Derivative instruments	—		18.6		—		18.6
TOTAL	$	601.4	$	18.6	$	—	$	620.0

LIABILITIES:

Derivative instruments	$	—	$	58.1	$	—	$	58.1
TOTAL	$	—	$	58.1	$	—	$	58.1


Recurring Fair Value Measurements	As of December 31, 2025
	Level 1		Level 2		Level 3		Total
ASSETS:
Cash equivalents	$	122.3	$	—	$	—	$	122.3
Trust assets(1)	0.1		—		—		0.1
Derivative instruments	—		1.9		—		1.9
TOTAL	$	122.4	$	1.9	$	—	$	124.3

LIABILITIES:

Derivative instruments	$	—	$	66.0	$	—	$	66.0
TOTAL	$	—	$	66.0	$	—	$	66.0


	Asset Fair Value
	September 30, 2026		December 31, 2025
Commodity contracts(1)	$	18.6	$	1.9


Status of our U.S. revolving credit facility:	September 30, 2026
Credit facility maximum amount	$	250.0
Borrowing availability	250.0
Outstanding letters of credit issued	33.1
Outstanding borrowings	—
Borrowing availability, net of outstanding letters of credit and borrowings	216.9


Status of our Iceland revolving credit facility:	September 30, 2026
Credit facility maximum amount	$	100.0
Borrowing availability	100.0
Outstanding letters of credit issued	—
Outstanding borrowings	—
Borrowing availability, net of borrowings	100.0


	Three months ended September 30, 2026		Nine months ended September 30, 2026
Proceeds received	$	18.5	$	101.6
Less: Directly related expense recovery	2.6		12.6
Gain on insurance proceeds	$	15.9	$	89.0


	Three months ended				Nine months ended
($ per tonne)	September 30, 2026		June 30, 2026		September 30, 2026		September 30, 2025
Average LME	$	3,227	$	3,576	$	3,333	$	2,564
Average MWP	2,420		2,518		2,411		1,094
Average EDPP	508		581		495		232


	Quarter ended				Nine months ended
	Sequential				Year-to-date
	September 30, 2026		June 30, 2026		September 30, 2026		September 30, 2025
Net sales
Related parties	$	491.6	$	330.9	$	1,128.4	$	1,065.9
Other customers	469.6		421.2		1,234.1		828.3
Total net sales	961.2		752.1		2,362.5		1,894.2
Gross profit	302.9		227.9		649.6		165.8
Selling, general and administrative expenses	10.8		15.9		52.5		44.4
Net gain (loss) on forward and derivative contracts - nonaffiliates	10.8		7.1		(47.5)		(51.2)



Gain on the sale of Hawesville	—		—		(287.9)		—
Gain on insurance proceeds - net	15.9		40.1		89.0		—
Income tax (expense) benefit	(11.6)		(12.1)		(25.5)		0.8
Net income	302.3		243.8		873.1		18.9
Net loss attributable to noncontrolling interests	(0.3)		(5.5)		(16.3)		(21.1)
Net income attributable to Century stockholders	302.6		249.3		889.4		40.0


SHIPMENTS - PRIMARY ALUMINUM(1)
	United States			Iceland			Total
	Tonnes	Sales $ (in millions)		Tonnes	Sales $ (in millions)		Tonnes	Sales $ (in millions)
2026

3rd Quarter	98,183	$	580.0	75,300	$	316.9	173,483	$	896.9
2nd Quarter	95,057	$	572.3	35,575	$	121.2	130,632	$	693.5
1st Quarter	93,668	$	494.3	29,197	$	87.3	122,865	$	581.6

2025


3rd Quarter	90,703	$	367.6	71,739	$	196.3	162,442	$	563.9
2nd Quarter	94,519	$	324.4	81,222	$	233.7	175,741	$	558.1

1st Quarter	94,601	306.6		74,071	217.3		168,672	$	523.9


	September 30, 2026		December 31, 2025
Current assets	$	1,222.1	$	646.0
Non-current assets	1,124.9		833.7
Current liabilities	293.0		268.2
Non-current liabilities	609.9		607.6


	Nine months ended September 30, 2026
Net sales	$	2,009.4
Gross profit	703.4
Gain on sale of Hawesville	287.9
Income before income taxes	910.6
Net income	889.4




			Amendment agreement

			Dated November 4, 2026
			for CENTURY ALUMINUM VLISSINGEN B.V. as Company with GLENCORE INTERNATIONAL AG acting as Lender RELATING TO A FACILITY AGREEMENT DATED 9 December 2022


Date:	November 5, 2026
		/s/ JESSE E. GARY
		Name: Jesse E. Gary
		Title: President and Chief Executive Officer (Principal Executive Officer)


Date:	November 5, 2026
		/s/ PETER TRPKOVSKI
		Name: Peter Trpkovski
		Executive Vice President and Chief Financial Officer (Principal Financial Officer)