Century Aluminum Company announced its fourth-quarter and full-year 2024 financial results, reporting Q4 net sales of $631.0 million. The company posted a net income attributable to Century stockholders of $47.7 million, or $0.47 per diluted share, with adjusted net income reaching $45.9 million, or $0.49 per share. Adjusted EBITDA for the quarter was $82.4 million.
For the full year 2024, net sales increased to $2.22 billion, up 1.6% from FY 2023. Full-year net income attributable to Century stockholders was $339.4 million, a substantial improvement of $382.5 million from the prior year, partly due to a $245.9 million bargain purchase gain from the Jamalco acquisition. Full-year adjusted EBITDA reached $245.2 million, an increase of $125.2 million compared to 2023, driven by higher metal prices and lower input costs.
The company's liquidity stood at $244.5 million as of December 31, 2024, comprising $32.9 million in cash and $211.6 million in borrowing availability. Century provided a positive outlook for the first quarter of 2025, projecting Adjusted EBITDA to range between $75 million and $85 million, based on improved metal pricing and regional premiums.
Operationally, the power curtailment at the Grundartangi smelter was lifted in February, with the plant expected to return to full production levels in March. Furthermore, the company noted that the Section 232 tariff rate on aluminum imports was set to increase to 25% effective March 12, which is expected to further support domestic pricing.
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