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 Corporation (NYSE: AA) announced that William F. Oplinger, Executive VP and CFO, will participate in a Q&A session at the Goldman Sachs Global Metals & Mining Conference on November 16, 2022, at 9:45 a.m. EST in New York. Oplinger will provide insights on the company's market positioning and outlook.
An audio webcast will be available on Alcoa's website, with a slide presentation accessible from 7:00 a.m. EST on the same day. A transcript and audio replay will also be posted after the session.
Alcoa Corporation reported a net loss of $746 million for Q3 2022, a significant decline attributed to lower alumina and aluminum prices and higher energy costs. Revenue fell to $2.85 billion, down 22% sequentially, with alumina prices decreasing by 16% and aluminum prices by 17%. The company undertook major restructuring, incurring $652 million in charges primarily related to pension settlements. Despite challenges, Alcoa generated $134 million in cash from operations and repurchased $150 million in stock. With cash reserves of $1.4 billion, the company remains focused on operational stability and sustainable product offerings.
Alcoa Corporation (NYSE: AA) has declared a $0.10 quarterly cash dividend per share for its common stock. This dividend will be paid on November 18, 2022, to shareholders recorded by November 1, 2022. Alcoa continues to position itself as a leader in the aluminum industry, emphasizing sustainability and innovation.
Alcoa Corporation (NYSE: AA) announced a new power purchase agreement with Endesa to aid the San Ciprián aluminum smelter's restart in Spain. This deal will facilitate power balancing services from 2024 to at least 2030, providing up to 131 megawatts, covering over 30% of the smelter's energy needs. This agreement complements a prior deal with Greenalia for up to 183 megawatts. Together, these contracts could supply 75% of the smelter's base load power, with efforts ongoing to secure the remaining energy requirements.
Alcoa Corporation is set to announce its third quarter 2022 financial results on October 19, after the market closes. The results will be accessible in the “Investors” section of Alcoa's website. Additionally, a conference call to discuss these results will be held at 5:00 p.m. EDT on the same day. Investors can participate via domestic and international dial-in numbers, with a replay available until October 26. Alcoa is committed to providing updates on financial performance through various channels.
Alcoa Corporation (NYSE: AA) has introduced new high-strength alloys, enhancing its product offerings for various applications. The A210 ExtruStrong alloy, part of the 6000 series, is more than 40% stronger and offers superior corrosion resistance for extruded applications. Meanwhile, the C611 EZCast alloy, recognized at the 2022 International Die Casting Competition, supports efficient manufacturing in automotive megacasting, particularly for electric vehicle manufacturer NIO. These innovations align with Alcoa's vision of sustainable aluminum solutions.
Alcoa Corporation (NYSE: AA) has achieved ASI Performance Standard certification for its Poços de Caldas operations in Brazil, marking all its Brazilian sites ASI certified. This brings Alcoa's total ASI-certified sites globally to 17. The Poços de Caldas facility includes a bauxite mine, alumina refinery, and aluminum casthouse, and is the sole producer of aluminum powder for industrial applications in the region. This certification underscores Alcoa's commitment to sustainability and adherence to high environmental and social standards.
Alcoa Corporation (NYSE:AA) announced that Executive Vice President and CFO, William F. Oplinger, will engage in a Q&A session at the Morgan Stanley 10th Annual Laguna Conference in Dana Point, California, on September 14, 2022, at 6:45 p.m. EDT. The session will cover the company's market positioning and outlook. A live audio webcast will be available on Alcoa's website, with a slide presentation accessible on September 13, 2022, at 7:00 a.m. EDT. A transcript and replay will follow after the session concludes.
Alcoa (NYSE: AA) has announced a curtailment of one-third of its production capacity at the Lista smelter in Norway due to escalating energy costs. The shutdown of one potline, amounting to approximately 31,000 metric tons of annual capacity, will commence immediately and last around 14 days. The site currently faces energy prices exceeding $600 per megawatt hour. However, an agreement with Statkraft is expected to stabilize energy costs in the near future. Approximately 65% of Alcoa's smelting portfolio is under long-term energy contracts.
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?
