AA
Alcoa Corporation46.56
+1.07+2.35%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
FY Q1 '26
Last Quarter (Q4 '25)
FY Q4 '25
San Ciprian path clarified
Q&A drilled into San Ciprian details, flagging $75-100M EBITDA loss in 2026—mostly refinery—but plotting cash neutrality by 2027 via smelter profits and $85M CO2 receipts. Alumar faced power setbacks, holding Q1 flat versus Q4 despite H2 profitability. Site monetizations delayed into 2026 for complex multi-year deals across 10 priority assets targeting $500M-$1B. No restarts planned, even at high premiums; Warrick line costs $100M and years. Cap alloc prioritizes debt paydown before returns or growth. No greenfields eyed. Analysts' production worries met firm rebuttals. Q&A largely reinforced prepared outlook. Watch San Ciprian ramp.
Key Stats
Market Cap
12.06BP/E (TTM)
10.23Basic EPS (TTM)
4.55Dividend Yield
0.01%Recent Filings
10-K
8-K
8-K
Redeems $141M notes early
Alcoa Nederland Holding B.V., Alcoa's wholly-owned subsidiary, elected on November 25, 2025, to redeem all $140,899,000 of its outstanding 5.500% Notes due 2027 at 100% of principal plus accrued interest on December 15, 2025. Funded by cash on hand—$1.49 billion as of September 30—the move clears debt two years early. Redemption at par. Forward-looking statements note economic risks.
10-Q
8-K
Alcoa Q3 earnings mixed
Alcoa reported Q3 2025 revenue of $3.0 billion, down 1% from Q2, with net income of $232 million boosted by a $786 million gain from selling its Ma'aden joint venture stake, yet offset by $895 million in restructuring charges for closing the Kwinana refinery. Production rose: alumina up 4% to 2.5 million metric tons, aluminum up 1% to 579,000 metric tons, driven by Australian refineries and San Ciprián restart progress. Cash stood at $1.5 billion after repaying a $74 million term loan. Adjusted EBITDA excluding special items fell to $270 million amid tariff costs and lower alumina prices, while Q4 outlook flags $50 million higher tariffs but $80 million alumina gains.
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