Welcome to our dedicated page for Alcoa Corporation news (Ticker: AA), a resource for investors and traders seeking the latest updates and insights on Alcoa Corporation stock.
Alcoa Corporation (NYSE: AA) is a global leader in the production and management of bauxite, alumina, and aluminum products. Established nearly 130 years ago, Alcoa has been a forerunner in the aluminum industry, continually innovating to make aluminum an affordable and essential part of modern life. The company operates in three segments: Bauxite, Alumina, and Aluminum, with the majority of revenue generated from the Aluminum segment. Alcoa is committed to sustainability, efficiency, and community strength, leveraging its substantial energy assets and extensive portfolio of value-added cast and rolled products. Recent initiatives include the curtailment of its Kwinana Alumina Refinery in Australia, the acquisition of Alumina Limited, and continued advancements in its ELYSIS™ technology, which aims to produce aluminum with zero direct greenhouse gas emissions.
Alcoa's business operations span the entire aluminum value chain, from bauxite mining and alumina refining to the production of primary aluminum. The company has a strong presence in both the U.S. and global markets, with significant contributions from its operations in Australia, Brazil, and Europe. Financially, Alcoa has shown resilience, adapting to market conditions and focusing on long-term profitability and shareholder value. The company's partnerships, including those with ELYSIS™ and Nexans, emphasize its commitment to sustainability and innovation in the aluminum industry. Alcoa's forward-looking strategies are geared towards enhancing operational efficiency, reducing environmental impact, and driving technological advancements.
Alcoa (NYSE: AA) reported strong Q4 and full-year 2024 results, showing significant financial improvements. Q4 revenue increased 20% sequentially to $3.5 billion, with net income rising 124% to $202 million ($0.76 per share). Full-year 2024 revenue grew 13% to $11.9 billion, with net income of $60 million ($0.26 per share).
Key achievements include setting annual production records at five smelters, delivering a $645 million profitability improvement program, completing the Kwinana refinery curtailment, acquiring Alumina , and announcing the sale of 25.1% interest in Ma'aden joint ventures. The company maintained a strong cash position of $1.1 billion, supported by a green bond issuance of $737 million.
Q4 alumina production decreased 2% to 2.39 million metric tons, while aluminum production increased 2% to 571,000 metric tons. The company paid quarterly dividends of $0.10 per share, totaling $90 million for the year.
Alcoa (NYSE: AA) has announced a Memorandum of Understanding (MoU) with key stakeholders regarding its San Ciprián operations. The agreement involves Alcoa Inespal SL, IGNIS Equity Holdings, SL, the Spanish National Government, and the Xunta de Galicia.
The MoU aims to improve the long-term outlook for the facility, which has faced economic challenges primarily due to high energy costs. After an unsuccessful sale process for 100% of the operations, a potential partnership with IGNIS EQT emerged.
Key focus areas of the MoU include: prioritizing smelter restart over deferrable capital investments, streamlining renewable energy project authorizations, implementing competitive energy cost policies, increasing CO2 compensation support, and supporting residue storage area capital projects approval. Alcoa continues to work on finalizing a joint venture agreement with IGNIS EQT while engaging with workers' unions.
Alcoa (NYSE: AA) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, January 22, 2025, after the NYSE trading close. The company will host a conference call at 5:00 p.m. EST on the same day to discuss the results.
The earnings call will be hosted by William Oplinger, President and CEO, and Molly Beerman, EVP and CFO. The presentation will be available on Alcoa's website, and a replay will be accessible until January 29, 2025. The company will provide detailed financial results and related presentation materials in the 'Investors' section of their website.
Alcoa (NYSE: AA) has joined the World Economic Forum's First Suppliers Hub, a global repository connecting companies with low-carbon aluminum technologies. This platform supports the First Movers Coalition's goal of industrial decarbonization by 2050, where members commit to procuring at least 10% of their annual primary aluminum at below 3 tonnes CO2e per ton. Alcoa offers ELYSIS®, a carbon-free smelting process, alongside their Sustana® product line including EcoLum®, EcoSource®, and EcoDura® aluminum products. The company's global smelting portfolio is currently 87% powered by renewable energy.
Alcoa announced that Executive Vice President and CFO Molly S. Beerman will participate in the Citi 2024 Basic Materials Conference in New York City on December 4, 2024. Beerman will engage in a Q&A session at 10:15 a.m. EST, discussing Alcoa's business outlook and current market factors.
A slide presentation will be available on Alcoa's website investor section at 7:00 a.m. EST on the same day. The session will be broadcast via live audio webcast, with both transcript and audio replay made available afterward on the company's website.
Alcoa (NYSE: AA) has responded positively to the U.S. Treasury Department's final regulations on the Section 45X Advanced Manufacturing Production Credit, which was implemented through the Inflation Reduction Act. The regulations support domestic manufacturing of critical materials, including commercial-grade aluminum from Alcoa's U.S. smelters in Newburgh, Indiana, and Massena, New York. These facilities produce aluminum for various sectors including clean energy, automotive, aerospace, and building materials. The company acknowledges the Treasury's inclusion of direct and indirect material costs and is currently analyzing the regulations' impact on its U.S. operations.
Alcoa (NYSE: AA) reported improved Q3 2024 results, reflecting the acquisition of Alumina and sequential increases in key financial metrics. Highlights include:
- Net income increased to $90 million ($0.38 per share)
- Adjusted net income rose to $135 million ($0.57 per share)
- Adjusted EBITDA excluding special items grew to $455 million
The company completed the Alumina acquisition, announced the sale of its 25.1% interest in Ma'aden joint ventures, and progressed on a strategic agreement for San Ciprián operations. Alcoa maintained a $1.3 billion cash balance and paid a $0.10 per share dividend. Alumina production decreased 4% due to Kwinana refinery curtailment, while aluminum production increased 3% with Alumar smelter restart progress.
Alcoa and IGNIS EQT are progressing toward a strategic cooperation agreement to support Alcoa's San Ciprián operations. The proposed partnership involves Alcoa contributing €75 million and IGNIS EQT investing €25 million initially. Alcoa would retain 75% ownership and continue as managing operator, while IGNIS EQT would hold 25% ownership. Up to €100 million additional funding from Alcoa may be provided as needed.
The partnership aims to leverage Alcoa's expertise in aluminum operations and IGNIS EQT's knowledge of energy markets. Key conditions include stakeholder cooperation, increased CO2 compensation support, permitting for power generation projects, and flexibility in the current smelter Viability Agreement. This strategic move comes after Alcoa's unsuccessful attempts to sell 100% of the San Ciprián operations due to challenging economic conditions, primarily high energy costs.
Alcoa (NYSE: AA; ASX: AAI) has announced a quarterly cash dividend declaration by its Board of Directors. The dividend, set at $0.10 per share, applies to both the Company's common stock and Series A convertible preferred stock. Stockholders of record as of the close of business on October 29, 2024, will receive the dividend payment on November 15, 2024. This announcement demonstrates Alcoa's commitment to providing regular returns to its shareholders, reflecting the company's financial stability and shareholder value focus.
Alcoa (NYSE: AA; ASX: AAI) has announced a long-term alumina supply contract extension with Aluminium Bahrain B.S.C. (Alba). The agreement, set to run from 2026 to 2035, allows Alba to procure up to 16.5 million tonnes of smelter grade alumina, primarily from Western Australia. This extension makes Alcoa Alba's largest third-party supplier of alumina.
Alcoa's President & CEO, William F. Oplinger, highlighted that this contract strengthens Alcoa's position as the premier global alumina supplier while providing strategic support to one of the world's largest aluminum producers. The agreement aligns with Alcoa's strategy to be a supplier of choice for long-term supply stability and supports the company's flexibility in managing its alumina position.
Alba's CEO, Ali Al Baqali, emphasized that the partnership with Alcoa reinforces their commitment to sustainability and mutual growth, while securing a steady alumina supply for their operations.
FAQ
What is the current stock price of Alcoa Corporation (AA)?
What is the market cap of Alcoa Corporation (AA)?
What are Alcoa Corporation's main business segments?
What recent initiatives has Alcoa undertaken?
What is ELYSIS™ technology?
How does Alcoa contribute to sustainability?
Where does Alcoa generate most of its revenue?
What is Alcoa's approach to community engagement?
Why is Alcoa curtailing its Kwinana Alumina Refinery?
What financial strategies does Alcoa employ?
Who are Alcoa's major partners?
How does Alcoa plan to enhance its operational efficiency?
