Oct 15, 4:14 PM ET
Alcoa reported third quarter 2026 results on October 15, 2026, with net income attributable to Alcoa of $483 million, or $1.81 per diluted share, up from $407 million in the second quarter. Revenue fell 7% sequentially to $3.7 billion, and adjusted EBITDA excluding special items declined to $789 million from $901 million, so shareholders see higher reported profit alongside weaker sequential operating measures. The company also reaffirmed its 2026 production and shipment projections and said it closes the AliGroup acquisition in the first half of 2027.
- Revenue was $3.704 billion, down from $3.966 billion in Q2 2026 but up from $2.995 billion in Q3 2025.
- Adjusted earnings were $1.82 per share, down from $2.12 in Q2 2026; adjusted net income was $485 million.
- Cash balance ended the quarter at $4.4 billion, including $2.6 billion of financing obtained for the AliGroup acquisition.
- For Q4 2026, Aluminum segment Adjusted EBITDA is expected to face about $30 million of unfavorable raw material and maintenance impacts, and interest expense is projected at about $185 million for the year.
Read the filing on SEC.gov ↗
Sep 23, 4:33 PM ET
Alcoa's subsidiaries completed a $2.6 billion private sale of senior notes due 2034 and 2036, with proceeds and cash on hand intended to fund the approximately $3.1 billion cash portion of the proposed South32 bauxite, alumina and aluminum smelter acquisition. The notes must be redeemed at 100% of principal plus accrued interest if the acquisition is not completed by the Special Mandatory Redemption End Date, which is at least June 29, 2027, and the company terminated its 364-day bridge loan commitments for the deal.
- $1.5 billion of 6.625% senior notes due 2034 issued by Alumina Pty Ltd and $1.1 billion of 6.875% senior notes due 2036 issued by Alcoa Nederland Holding B.V.
- Proceeds plus cash on hand are intended to fund the approximately $3.1 billion cash portion of the South32 acquisition and related fees and expenses.
- If the acquisition is not completed by June 29, 2027, or a later date under the Deed, the notes must be redeemed at 100% of principal plus accrued interest.
- Concurrently with the notes closing, Alcoa terminated all remaining commitments under its 364-day senior unsecured bridge term loan facility.
Read the filing on SEC.gov ↗
Jul 16, 4:12 PM ET
Alcoa reported second quarter 2026 revenue of $3,966 million, a quarterly record, and net income attributable to the company of $407 million, or $1.53 per diluted share, down from $425 million and $1.60 in the first quarter. The company also lowered its 2026 alumina production and shipment projections because of lower output at its Pinjarra, Australia refinery, a mixed picture for shareholders.
- Revenue of $3,966 million rose 24 percent sequentially from $3,193 million in the first quarter and was up from $3,018 million in the second quarter of 2025.
- Adjusted earnings per share were $2.12, up from $1.40 in the first quarter, excluding net special items of $155 million.
- 2026 alumina production projection cut to 9.5 to 9.6 million metric tons, and alumina shipments projection cut to 11.5 to 11.6 million metric tons.
- Alcoa entered a definitive agreement on June 30, 2026 to acquire South32's bauxite, alumina and aluminum assets for upfront consideration of about $4.1 billion, plus a contingent value right of up to $750 million.
Read the filing on SEC.gov ↗
Jul 2, 4:17 PM ET
On June 30, 2026, Alcoa agreed to acquire South32's interests in bauxite mine, alumina refinery and aluminum smelter operations for $3.1 billion in cash plus about 17 million Alcoa shares, with an agreed value of about $1 billion, plus a contingent payment of up to $750 million. The deal is expected to close in the first half of 2027, subject to South32 shareholder and regulatory approvals, and Alcoa has a bridge loan commitment from Goldman Sachs Bank USA of up to $3.1 billion to help fund the cash portion.
- Upfront consideration: $3.1 billion in cash, subject to adjustments, plus about 17 million Alcoa shares, roughly 6% of shares outstanding after issuance
- At least half of the shares will be distributed to South32 shareholders in a specie distribution; the rest may be sold by South32 in an orderly manner
- Contingent value right: up to $750 million in cash over four annual periods starting July 1, 2026, based on alumina and aluminum prices exceeding agreed strike prices
- Expected closing in the first half of 2027; termination payments of $41 million or $82 million to Alcoa and $82 million from Alcoa in certain cases
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.