We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Century Aluminum Extends Power Deal, Plans $50M Reactivation
Read MoreHide Full Article
Key Takeaways
Century Aluminum extended its power pact with Santee Cooper through 2031 for the Mt. Holly plant.
The $50M plan will restart idle capacity, add 50,000 tons of output and create 100-plus jobs.
The restart could lift Mt. Holly to full production by summer 2026, pending state incentives.
Century Aluminum Company (CENX - Free Report) recently announced that it has signed an extension of its power purchase agreement with the South Carolina Public Service Authority (Santee Cooper) to secure power supply to its Mt. Holly aluminum smelter through 2031.
The extension is aimed at supporting the company’s efforts to restart idle production capacity at Mt. Holly, located near Charleston, SC. In conjunction with the agreement, Century Aluminum plans a $50 million investment toward reactivating the idled capacity.
CENX Deal Aims to Restore Full Production at Mt. Holly Plant
The company projects that the reactivation would add 50,000 metric tons of aluminum output and create more than 100 new jobs. Century noted that Mt. Holly is currently operating at approximately 75% of capacity, and under the plan, the plant aims to reach full production by early summer 2026, a level not seen since 2015.
Century also cited that at full operation, the Mt. Holly smelter is estimated to contribute about $900 million annually to South Carolina’s economy, with new positions averaging $125,000 in wages, based on a 2024 University of South Carolina study. The company stated that reaching the extension involved cooperative negotiations with Santee Cooper.
The company emphasized that the agreement with Santee Cooper followed extensive collaboration between both parties and reflected a shared goal of supporting industrial operations in South Carolina. Santee Cooper described the arrangement as a service agreement that will provide additional power, enabling Century Aluminum to bring an idled potline back into service and increase the plant’s operational capacity by 25%.
Santee Cooper reaffirmed its longstanding relationship with the Mt. Holly facility. Century Aluminum also stated that the restart of the idled capacity is contingent upon the final confirmation of economic incentives from the State of South Carolina and Berkeley County.
Shares of CENX have rallied 66.3% year to date compared with the industry’s rise of 15.8%.
The Zacks Consensus Estimate for ALLE’s current-year earnings is pegged at $8.18 per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 7.9%.
The Zacks Consensus Estimate for AOS’s current fiscal-year earnings is pegged at $3.84 per share, indicating a 2.95% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with an average surprise of 2.9%.
The Zacks Consensus Estimate for ATR’s 2025 earnings is pegged at $5.87 per share. The company’s earnings beat the consensus estimate in each of the trailing four quarters, with an average surprise of 8.34%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Century Aluminum Extends Power Deal, Plans $50M Reactivation
Key Takeaways
Century Aluminum Company (CENX - Free Report) recently announced that it has signed an extension of its power purchase agreement with the South Carolina Public Service Authority (Santee Cooper) to secure power supply to its Mt. Holly aluminum smelter through 2031.
The extension is aimed at supporting the company’s efforts to restart idle production capacity at Mt. Holly, located near Charleston, SC. In conjunction with the agreement, Century Aluminum plans a $50 million investment toward reactivating the idled capacity.
CENX Deal Aims to Restore Full Production at Mt. Holly Plant
The company projects that the reactivation would add 50,000 metric tons of aluminum output and create more than 100 new jobs. Century noted that Mt. Holly is currently operating at approximately 75% of capacity, and under the plan, the plant aims to reach full production by early summer 2026, a level not seen since 2015.
Century also cited that at full operation, the Mt. Holly smelter is estimated to contribute about $900 million annually to South Carolina’s economy, with new positions averaging $125,000 in wages, based on a 2024 University of South Carolina study. The company stated that reaching the extension involved cooperative negotiations with Santee Cooper.
The company emphasized that the agreement with Santee Cooper followed extensive collaboration between both parties and reflected a shared goal of supporting industrial operations in South Carolina. Santee Cooper described the arrangement as a service agreement that will provide additional power, enabling Century Aluminum to bring an idled potline back into service and increase the plant’s operational capacity by 25%.
Santee Cooper reaffirmed its longstanding relationship with the Mt. Holly facility. Century Aluminum also stated that the restart of the idled capacity is contingent upon the final confirmation of economic incentives from the State of South Carolina and Berkeley County.
Shares of CENX have rallied 66.3% year to date compared with the industry’s rise of 15.8%.
Image Source: Zacks Investment Research
CENX’s Zacks Rank & Other Key Picks
CENX currently carries a Zacks Rank of #2 (Buy).
Some other top-ranked stocks in the Industrial Products space are Allegion plc. (ALLE - Free Report) , A. O. Smith Corporation (AOS - Free Report) and AptarGroup, Inc. (ATR - Free Report) . ALLE, AOS and ATR carry Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for ALLE’s current-year earnings is pegged at $8.18 per share. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 7.9%.
The Zacks Consensus Estimate for AOS’s current fiscal-year earnings is pegged at $3.84 per share, indicating a 2.95% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with an average surprise of 2.9%.
The Zacks Consensus Estimate for ATR’s 2025 earnings is pegged at $5.87 per share. The company’s earnings beat the consensus estimate in each of the trailing four quarters, with an average surprise of 8.34%.