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.
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Alcoa Corporation (NYSE: AA) CEO William F. Oplinger to present at BMO Global Metals, Mining & Critical Minerals Conference on February 27, 2024, discussing business, market conditions, and financial outlook. Presentation details available on Alcoa's website.
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Alcoa (NYSE:AA) has announced that it will supply global cable producer Nexans with aluminum produced from a revolutionary process that eliminates all direct greenhouse gas emissions from the traditional smelting process. The breakthrough ELYSIS™ technology, a partnership that replaces greenhouse gas emissions with oxygen, will be used by Nexans to manufacture various types of cables. The aluminum rod produced from this technology will have lower CO2 emissions, helping to reduce carbon dioxide emissions in the future. This collaboration further strengthens the long-term relationship between the two companies, with Alcoa already supplying Nexans with EcoLum™, a primary aluminum with a carbon footprint nearly three times lower than the industry average. The ELYSIS metal has also been used by Audi and Apple, both investors in the technology. Alcoa's commitment to supplying low-carbon aluminum for the world's transition to renewable energy is evident through this partnership.
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Alcoa Corporation (NYSE: AA) reported fourth quarter and full year 2023 results, showing progress on key priorities. Revenue for 4Q23 was $2,595M, with a net loss of $(150)M. Full year revenue was $10,551M, with a net loss of $(651)M. Alumina production decreased 1% sequentially, while aluminum production increased 2%. Total third-party revenue was flat sequentially at $2.60B. The company ended 2023 with a cash balance of $944M.
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Alcoa Corporation (NYSE: AA) plans to fully curtail production at its Kwinana Alumina Refinery in Western Australia in 2024, with the process starting in the second quarter. The refinery, with an annual nameplate production capacity of 2.2 million metric tons, has been operating at approximately 80 percent of its capacity since January 2023. The decision to curtail the facility is based on factors such as its age, scale, operating costs, current bauxite grades, and market conditions. This will result in a phased reduction of the workforce from around 800 employees to approximately 250 by the third quarter of 2024. Alcoa acknowledges the impact on workers, business partners, and the community, expressing gratitude for their support over the refinery's 60-year operation.
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Alcoa Corporation (AA) to announce Q4 and full year 2023 financial results on January 17, 2024. Conference call to discuss financial results with President and CEO William Oplinger and CFO Molly Beerman.
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Alcoa Corporation (NYSE: AA) appoints Matt Reed as Executive Vice President and Chief Operations Officer, effective January 1, 2024
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Alcoa Corporation (NYSE: AA) anticipates a benefit in Cost of goods sold of $35-40 million (after-tax) in Q4 2023 related to its Massena and Warrick smelters due to the U.S. Treasury Department's guidance on Section 45X of the Advanced Manufacturing Tax Credit. However, it also expects a charge to tax expense of $140-150 million in Brazil, resulting in a net loss of $40-50 million in the same quarter.
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Alcoa Corporation (NYSE: AA) has received approvals from the Western Australian Government for its 2023-2027 Mining and Management Program, allowing the company to continue bauxite mining and downstream alumina refining. The government has granted an exemption for Alcoa's mining operations, subject to stringent environmental conditions. Alcoa has also committed to modernizing State Agreements and approvals frameworks, demonstrating its focus on operating in line with evolving community expectations.
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Alcoa Corporation (NYSE: AA) representatives of the Spanish operating subsidiaries are meeting with national and regional authorities in Spain to address financial losses at the San Ciprián complex, including an alumina refinery and an aluminum smelter. The smelter was curtailed in January 2022, with a phased restart planned for January 2024. The refinery has been operating at 50% capacity since Q3 2022 due to worsening economics. Market challenges, energy costs, and delayed alternative energy supplies have contributed to the situation. Alcoa has invested $65 million in 2023 to comply with obligations, but long-term solutions are needed for the unsustainable business conditions at San Ciprián operations.
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Alcoa Corporation (NYSE: AA) announced that President and CEO William F. Oplinger will speak at the Goldman Sachs Metals and Mining Conference in New York, discussing market conditions, business outlook, and potential impact on this quarter's financial results. The presentation will be available on the company's website, with a live webcast and audio replay.
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FAQ
What is the current stock price of Alcoa Corporation (AA)?
The current stock price of Alcoa Corporation (AA) is $45.47 as of November 22, 2024.
What is the market cap of Alcoa Corporation (AA)?
The market cap of Alcoa Corporation (AA) is approximately 11.8B.
What are Alcoa Corporation's main business segments?
Alcoa operates in three main segments: Bauxite, Alumina, and Aluminum, with the Aluminum segment generating the majority of its revenue.
What recent initiatives has Alcoa undertaken?
Recent initiatives include the curtailment of the Kwinana Alumina Refinery in Australia, the acquisition of Alumina Limited, and advancements in ELYSIS™ technology for zero-emission aluminum production.
What is ELYSIS™ technology?
ELYSIS™ is a groundbreaking technology developed by Alcoa and Rio Tinto that aims to eliminate all direct greenhouse gas emissions from the aluminum smelting process, instead emitting oxygen.
How does Alcoa contribute to sustainability?
Alcoa focuses on sustainability by innovating in low-carbon aluminum production, efficiently managing energy assets, and participating in partnerships like ELYSIS™ to reduce environmental impact.
Where does Alcoa generate most of its revenue?
Alcoa generates the majority of its revenue from the Aluminum segment, with significant contributions from its operations in the United States.
What is Alcoa's approach to community engagement?
Alcoa is committed to building stronger communities through responsible operations, continuous innovation, and sustainable practices that prioritize safety and environmental stewardship.
Why is Alcoa curtailing its Kwinana Alumina Refinery?
Alcoa decided to curtail the Kwinana Alumina Refinery due to factors including its age, scale, operating costs, and current market conditions.
What financial strategies does Alcoa employ?
Alcoa focuses on long-term profitability and shareholder value, adapting to market conditions, and making strategic investments in technology and sustainability.
Who are Alcoa's major partners?
Alcoa's major partners include Rio Tinto in the ELYSIS™ technology partnership and Nexans for supplying low-carbon aluminum rod.
How does Alcoa plan to enhance its operational efficiency?
Alcoa plans to enhance operational efficiency through productivity programs, technological advancements, and strategic initiatives like the acquisition of Alumina Limited.
Alcoa Corporation
NYSE:AA
AA Rankings
AA Stock Data
11.77B
256.40M
0.76%
69.51%
3.4%
Aluminum
Primary Production of Aluminum
United States of America
PITTSBURGH