Earnings summaries and quarterly performance for Alcoa.
Executive leadership at Alcoa.
William Oplinger
Detailed
President and Chief Executive Officer
CEO
Andrew Hastings
Detailed
Executive Vice President and General Counsel
Matthew Reed
Detailed
Executive Vice President and Chief Operations Officer
Molly Beerman
Detailed
Executive Vice President and Chief Financial Officer
Renato Bacchi
Detailed
Executive Vice President and Chief Commercial Officer
Board of directors at Alcoa.
Research analysts who have asked questions during Alcoa earnings calls.
Carlos de Alba
Morgan Stanley
7 questions for AA
Also covers: AR, BVN, CLF +13 more
Timna Tanners
Wolfe Research
6 questions for AA
Also covers: AMRZ, ATI, AZZ +19 more
Daniel Major
UBS
5 questions for AA
Also covers: AEM, FCX, FNV +5 more
Katja Jancic
BMO Capital Markets
5 questions for AA
Also covers: ARCH, ASTL, BTU +9 more
Alex Hacking
Citigroup
4 questions for AA
Also covers: ARCH, CLF, CMC +7 more
John Tumazos
John Tumazos Very Independent Research
4 questions for AA
Also covers: AEM, ASM, CENX +13 more
Lawson Winder
Bank of America
4 questions for AA
Also covers: AEM, CCJ, CGAU +21 more
Nick Giles
B. Riley Securities
4 questions for AA
Also covers: AMR, APLD, AZZ +25 more
Bill Peterson
JPMorgan Chase & Co.
3 questions for AA
Also covers: ACHR, BLDE, CHPT +11 more
Chris LaFemina
Jefferies Financial Group
3 questions for AA
Also covers: BTU, FCX, GLNCY +2 more
Christopher LaFemina
Jefferies
3 questions for AA
Also covers: ARCH, BTU, CLF +6 more
Glyn Lawcock
Barrenjoey
3 questions for AA
Also covers: ALTM, BHP, CODQL +1 more
Michael Dudas
Vertical Research Partners
3 questions for AA
Also covers: ACM, ARCH, CEIX +15 more
Bennett Moore
JPMorgan Chase & Co.
2 questions for AA
Also covers: CRS, CSTM, EAF +3 more
Lucas Pipes
B. Riley Securities
2 questions for AA
Also covers: AMR, AMRK, APLD +21 more
William Peterson
JPMorgan Chase & Co.
2 questions for AA
Also covers: ACHR, BLDE, CHPT +14 more
Henry Hearle
B. Riley Securities
1 question for AA
Also covers: BTBT, CAN, HL +1 more
John Tumazanos
John Tumazanos Very Independent Research
1 question for AA
Lachlan Shaw
UBS Group AG
1 question for AA
Also covers: CODQL
Recent press releases and 8-K filings for AA.
Alcoa Reports 3Q25 Financials, Strategic Actions, and Provides FY25 Outlook
AA
Earnings
Guidance Update
New Projects/Investments
- Alcoa reported $232 million in Net income attributable to Alcoa and $270 million in Adjusted EBITDA excluding special items for 3Q25, with free cash flow at $(66) million.
- Key one-time items in 3Q25 included a $786 million gain from the sale of a 25.1% interest in the Ma'aden joint venture and $895 million in restructuring and related charges for the permanent closure of the Kwinana refinery.
- LME aluminum prices increased 7% sequentially in 3Q25, supported by resilient fundamentals, a weaker U.S. dollar, and anticipated Fed rate cuts.
- The company's FY25 outlook, as of September 30, 2025, projects alumina production between 9.5-9.7 Mmt and aluminum production between 2.3-2.5 Mmt.
- For 4Q25, Alcoa anticipates a favorable impact of approximately $80 million on Alumina segment Adjusted EBITDA and an unfavorable impact of approximately $20 million on Aluminum segment Adjusted EBITDA sequentially.
Dec 3, 2025, 6:00 PM
Alcoa Highlights Strategic Progress, Operational Growth, and Asset Sale Targets
AA
M&A
New Projects/Investments
Guidance Update
- Alcoa has achieved significant milestones since late 2023, including the Alumina Limited acquisition, delivering a $645 million profitability program early, selling its Ma'aden joint venture for $1.5 billion in Ma'aden shares, and winning a $700 million tax dispute with the Australian Taxation Office.
- The company anticipates gaining 1 million metric tons of production and $15-$20 per ton in cost improvement by 2030 from new Western Australia mine areas, pending final approvals by the end of 2026. Alcoa is also pursuing pragmatic growth through internal capacity expansions and M&A opportunities.
- Alcoa aims to generate $500 million to $1 billion in cash from the sale of former closed sites (transformation sites) by 2030, with many attracting interest from data center developers. The company is currently paying over $900 million annually in tariffs but benefits from high Midwest premiums, which are expected to remain elevated to incentivize necessary imports.
- For the fourth quarter, tariff costs are projected to increase by $10 million-$15 million due to higher LME prices and increased profitable shipments to the U.S..
Dec 3, 2025, 6:00 PM
Alcoa Highlights Accomplishments, Updates Q4 Guidance, and Outlines Future Growth
AA
Guidance Update
New Projects/Investments
M&A
- Alcoa highlighted significant accomplishments under CEO Bill Oplinger, including $60 million in IRA benefits, the Alumina Limited acquisition, a $645 million profitability program delivered early, the sale of the Ma'aden joint venture resulting in $1.5 billion in monetizable shares, and winning a $700 million tax dispute with the Australian Taxation Office.
- The company updated its Q4 guidance, expecting tariff costs to increase by $10-$15 million above the guided $50 million due to higher LME prices and increased U.S. shipments, which is considered a "high-quality problem".
- Alcoa expects to receive approvals for its Western Australia mine process by the end of 2026, which would lead to a 1 million metric ton increase in production and $15-$20 per ton in cost improvement by 2030.
- The company aims to generate $500 million to $1 billion from asset sales of former closed locations by 2030, with a focus on sites attractive to data center developers.
- Alcoa is well-positioned for the EU CBAM, effective January 1, 2026, due to its low carbon profile and ability to source from within Europe, anticipating higher premiums of around $40 a ton.
Dec 3, 2025, 6:00 PM
Alcoa Highlights Strategic Progress, Growth Initiatives, and Q4 Tariff Update
AA
Guidance Update
New Projects/Investments
M&A
- Alcoa has achieved significant milestones under CEO Bill Uplinger, including securing $60 million in IRA benefits, acquiring Alumina Limited, delivering a $645 million profitability program early, and winning a tax dispute of over $700 million.
- The company is strategically positioned with over 65% of its smelters on long-term power contracts, targeting $30-$40 per megawatt hour, significantly below the $100+ per megawatt hour paid by data centers.
- Alcoa anticipates substantial benefits from Western Australia mine approvals, projecting a 1 million metric ton production increase and $15-$20 per ton cost improvement by 2030.
- The company aims to generate $500 million to $1 billion in cash from asset sales of former closed sites by 2030, leveraging interest from data center developers.
- For Q4, Alcoa updated its guidance, expecting tariff costs to increase by $10 million to $15 million from the initial $50 million due to higher LME and increased US shipments.
Dec 3, 2025, 6:00 PM
Alcoa Highlights Strategic Progress, Market Outlook, and Q4 Tariff Impact
AA
Guidance Update
New Projects/Investments
M&A
- Alcoa highlighted significant progress since Bill Oplinger became CEO, including the Alumina Limited acquisition, a $645 million profitability program delivered early, the sale of its Ma'aden joint venture, and a $700 million tax dispute win with the Australian Taxation Office. The company is also approaching the top end of its adjusted net debt target of $1-$1.5 billion, closing Q3 just over $1.6 billion.
- The company views the global aluminum market as balanced but with deficits in North America and Europe, and sees strong long-term growth in key markets such as transportation, construction, packaging, and electrical.
- Alcoa stated that Section 232 tariffs no longer hurt the company, with the benefit on U.S. production offsetting margin compression on Canadian tons. The company is currently paying over $900 million a year in tariffs and expects Q4 tariff costs to increase by $10-$15 million from the initial $50 million guidance due to higher LME and increased U.S. shipments.
- Alcoa is pursuing asset sales from former closed sites, many with electrical infrastructure attractive to data centers, targeting $500 million to $1 billion in cash receipts by 2030.
- Regarding the Western Australia mine approval process, Alcoa expects ministerial approvals by the end of 2026, which would position them to move into new mine areas by 2029 and gain 1 million metric tons of production and $15-$20 per ton in cost improvement by 2030 due to higher bauxite grade.
Dec 3, 2025, 6:00 PM
Alcoa to Redeem $141 Million in 2027 Notes
AA
- Alcoa Nederland Holding B.V. will redeem $141 million of its 5.500% notes due in 2027 on December 15, 2025.
- This action is part of Alcoa's strategic financial management to simplify its debt structure, reduce interest costs, and alleviate refinancing pressures.
- The redemption will be funded using available cash resources, with Alcoa reporting a cash balance of $1.49 billion as of late September 2025.
Nov 25, 2025, 10:59 PM
Alcoa Corporation Announces Redemption of 2027 Notes
AA
Debt Issuance
- Alcoa Corporation announced its intention to redeem $141 million in aggregate principal amount of its outstanding 5.500% Notes due 2027.
- The redemption is scheduled for December 15, 2025, at 100.000% of the principal amount plus accrued and unpaid interest.
- The company plans to fund the redemption using cash on hand, reporting a cash balance of $1.49 billion as of September 30, 2025.
Nov 25, 2025, 9:34 PM
Alcoa, Ball, and Unilever Partner on ELYSIS® Carbon-Free Smelting Technology
AA
Product Launch
New Projects/Investments
- Alcoa, in collaboration with Ball Corporation and Unilever PLC, has launched the first use of ELYSIS® carbon-free smelting technology in consumer personal and home care packaging.
- The ELYSIS technology eliminates direct greenhouse gas emissions from the aluminum smelting process by producing oxygen instead of CO2.
- The initial application is an aerosol can made with 50% ELYSIS primary aluminum and 50% post-consumer recycled content, representing a low-carbon packaging solution.
Nov 6, 2025, 1:00 PM
Alcoa Outlines Strategic Vision and Operational Performance at Investor Day 2025
AA
M&A
New Projects/Investments
Revenue Acceleration/Inflection
- Alcoa's CEO, William Oplinger, positioned the company as a leading investment in the aluminum industry, reporting $1.6 billion of EBITDA in 2024 and highlighting the 2024 acquisition of Alumina Limited as transformational.
- The company has strengthened its financial position by monetizing $1 billion in assets and returning $1 billion to shareholders over the last five years, targeting a net debt of $1 billion to $1.5 billion.
- Alcoa projects continued market growth, with North America and Europe expected to face deficits, while global supply remains constrained by China's 45 million metric ton cap and significantly higher capital costs outside China.
- Operational excellence initiatives led to a 50% reduction in serious chemical burn injuries over three years and delivered $80 million+ in profitability improvement benefits in 2024, including a 330 tonnes per day production increase at the Alumar refinery.
- The company's high-performance culture is reflected in 97% retention of top performers and voluntary employee turnover below 6%.
Oct 30, 2025, 1:00 PM
Alcoa Highlights 2024 Performance and Strategic Growth at Investor Day
AA
M&A
New Projects/Investments
Share Buyback
- In 2024, Alcoa reported $12 billion in revenue, $60 million in net income attributable to Alcoa, and $0.26 in earnings per share. The company projects global total aluminum consumption to grow from 107 mmt in 2025 to 134 mmt in 2035.
- Alcoa completed the Alumina Limited acquisition on August 1, 2024, deepening its commitment in Australia and strengthening its market leadership. The company also completed the sale of its 25.1% interest in the Ma'aden joint venture on July 1, 2025, for a total consideration of $1.35 billion.
- The company initiated a $645 million Profitability Improvement Program in January 2024, achieving over $675 million in savings by December 2024. Alcoa maintains a disciplined capital allocation framework, targeting $1.0 billion to $1.5 billion in adjusted net debt and has a $500 million share buyback authorization remaining and a quarterly dividend of $0.10 per share.
Oct 30, 2025, 1:00 PM
Quarterly earnings call transcripts for Alcoa.
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