Alcoa Q2 revenue hits record $4.0 billion; 2026 alumina outlook cut
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.
Key points
- 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.
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 July 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.