Alcoa Q1 net income rises to $425 million, or $1.60 per share, on higher aluminum prices
Alcoa reported first quarter 2026 results on April 16, 2026, with net income attributable to the company of $425 million, or $1.60 per diluted share, up from $213 million in the prior quarter but down from $548 million a year earlier. Revenue fell to $3.2 billion from $3.449 billion in the fourth quarter of 2025 and $3.369 billion a year earlier, and the company said shipment timing affected results. For shareholders, the picture is mixed: profit improved sequentially and guidance for 2026 production and shipments was unchanged, but revenue and year-over-year profit declined.
Key points
- Revenue was $3,193 million, versus $3,449 million in Q4 2025 and $3,369 million in Q1 2025.
- Adjusted EPS was $1.40, versus $1.21 in Q4 2025 and $2.15 in Q1 2025; adjusted EBITDA excluding special items was $595 million, versus $855 million in Q1 2025.
- Cash balance was $1.4 billion; the company will redeem the remaining $219 million of 6.125% notes due 2028 on May 15, 2026.
- For Q2 2026, the company expects Alumina segment Adjusted EBITDA to be about $15 million lower sequentially and Aluminum segment Adjusted EBITDA about $55 million higher, with operational tax expense of $110 million to $120 million.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 16, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.