Century Aluminum's third-quarter results fell short of expectations, with power and operating costs acting as a drag.
November 6, 2026
Century Aluminum announced on Thursday that for the quarter ending September 30, 2026, the company's net sales increased by $209.1 million compared to the previous quarter. The main reasons were the resumption of production at the Glendautangi plant in Iceland, the recovery of production capacity to nearly full capacity in this quarter, and the improvement in the selling price of aluminum products.
Century Aluminum disclosed that the company's net profit attributable to itself in the third quarter of 2026 was $302.6 million, an increase of $53.3 million compared to the previous quarter. The growth in net profit in the third quarter was mainly due to the increase in output driven by the resumption of production at the Glendautangi 2号线 and the improvement in metal selling prices； however， some of the gains were offset by two factors： the reduction in insurance claims related to equipment failures in Iceland and the weakening of electricity settlement costs due to the extreme high-temperature weather in the third quarter.
The third-quarter results were also affected by a net special item of $31 million： the after-tax unrealized gain of derivative instruments was $34.5 million， the after-tax gain from insurance claims was $12.7 million， and the after-tax loss from equipment failures in Iceland was $15.1 million， which was partially offset. Based on this calculation， the company's adjusted net profit attributable to itself in the third quarter of 2026 was $271.6 million， an increase of $14.3 million compared to the previous quarter.
The company's adjusted EBITDA for the third quarter of 2026 was $331.6 million， an increase of $4.7 million compared to the previous quarter. The increase was mainly due to sales volume， product structure optimization， and the favorable selling prices of metals； however， it was offset by the increase in operating expenses and unfavorable electricity settlement prices.
