Every material Form 8-K Alcoa filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Alcoa reported third quarter 2025 net income attributable to the company of $232 million, or $0.88 per share, helped by an $786 million gain on the Ma'aden joint venture stake sale and a $267 million mark-to-market gain on Ma'aden shares. Excluding net special items of $238 million, including $895 million of charges for the Kwinana refinery closure, the company posted an adjusted net loss of $6 million, or $0.02 per share, and adjusted EBITDA excluding special items fell to $270 million. Alcoa's 2025 alumina and aluminum production and shipment outlook is unchanged, and it expects higher tariff costs in the fourth quarter.
Revenue was $2,995 million, down 1% from $3,018 million in the second quarter and up from $2,904 million a year earlier.
Net income attributable to Alcoa was $232 million, or $0.88 per share, versus $164 million, or $0.62 per share, in the second quarter.
Adjusted net loss was $6 million, or $0.02 per share, compared with adjusted net income of $103 million in the second quarter.
Full-year 2025 alumina and aluminum production and shipment expectations were left unchanged, and fourth quarter tariff costs on Canadian aluminum imports are expected to rise by about $50 million sequentially.
Alcoa approved the permanent closure of its 2.2 million metric ton Kwinana alumina refinery in Western Australia, which has been fully curtailed since June 2024. The company will record about $890 million in restructuring and related charges in the third quarter of 2025, and expects total cash outlays of about $600 million over the next six years.
Charges of about $890 million ($623 million after-tax, or $2.41 per share) in Q3 2025, including about $375 million of non-cash impairment charges
Expected cash outlays of about $600 million over six years, with about $75 million in Q4 2025
About 220 employees affected; demolition and remediation to begin in 2026
Severance of $41 million was previously recorded in Q1 2024
Alcoa reported second quarter 2025 revenue of $3.0 billion and net income attributable to Alcoa of $164 million, or $0.62 per diluted share, down from $548 million in the first quarter but up from $20 million a year earlier. The company lowered its 2025 aluminum shipment forecast because of the delayed San Ciprián smelter restart, which it now expects to finish by mid-2026, and it expects a $90 million to $110 million net loss from that smelter in 2025.
Revenue was $3,018 million, down 10% from $3,369 million in the first quarter and up from $2,906 million in the second quarter of 2024.
Adjusted EBITDA excluding special items was $313 million, versus $855 million in the first quarter; the company cited lower alumina and aluminum prices and about $115 million in tariff costs on Canadian aluminum imports.
The Ma'aden joint venture sale closed July 1, 2025, for total consideration of $1.35 billion; Alcoa expects a gain of approximately $780 million in the third quarter.
Alcoa reported first quarter 2025 net income attributable to the company of $548 million, or $2.07 per common share, up from $202 million in the fourth quarter of 2024 and a $252 million loss a year earlier. Revenue fell 3 percent sequentially to $3.4 billion, as higher aluminum prices offset lower shipments and tariff costs. The company also expects second quarter aluminum costs from U.S. tariffs and San Ciprián smelter restart work to weigh on results.
Adjusted EBITDA excluding special items rose to $855 million from $677 million in the fourth quarter of 2024.
Cash ended the quarter at $1.2 billion after Alcoa issued $1 billion of notes in Australia and tendered $890 million of existing debt.
For the second quarter, the Aluminum segment expects $90 million of tariff impacts on Canadian imports and $15 million of San Ciprián restart costs, partly offset by $165 million of favorable alumina costs.
Alcoa formed a joint venture with IGNIS Equity Holdings, SL, in which Alcoa owns a 75 percent interest and continues as managing operator of the San Ciprián complex.
Alcoa's wholly-owned subsidiary Alumina Pty Ltd completed an offering of $1 billion in senior notes, split equally between 6.125% notes due 2030 and 6.375% notes due 2032. The notes are guaranteed on a senior unsecured basis by Alcoa and certain of its subsidiaries, and the filing describes new debt obligations and covenants that limit liens, mergers and asset sales. The filing does not report revenue, profit or the use of proceeds.
Offering totaled $1 billion: $500 million of 6.125% senior notes due 2030 and $500 million of 6.375% senior notes due 2032.
Notes were issued March 17, 2025 under an indenture with The Bank of New York Mellon Trust Company, N.A., as trustee.
2030 notes are redeemable at the issuer's option on or after March 15, 2027; 2032 notes on or after March 15, 2028.
Holders can require repurchase at 101% of principal plus accrued interest if a change of control repurchase event occurs.
Alcoa Chairman Steven W. Williams notified the company on February 20, 2025, that he will not seek re-election to the Board at the 2025 Annual Meeting of Stockholders. He will remain chairman until his term ends at that meeting, and the filing says the decision is not due to any disagreement with the Board or the company. Board size will shrink to eleven directors after the meeting.
Steven W. Williams will not stand for re-election at the 2025 Annual Meeting of Stockholders
Williams has served as a director since Alcoa's 2016 launch as a public company and as Chairman since 2021
Board size will be reduced to eleven directors immediately upon the end of his term
The filing states the departure is not due to any disagreement with the Board or the company
Alcoa reported fourth quarter and full year 2024 results, with fourth quarter revenue of $3.5 billion and net income attributable to Alcoa of $202 million, both up sharply from the third quarter. Full year net income was $60 million, compared with a net loss of $651 million in 2023, which matters to shareholders because it shows a return to profit. The company also gave 2025 production and first quarter cost outlooks, with alumina output expected to fall and aluminum output expected to rise.
Fourth quarter 2024 revenue was $3.5 billion, up 20% sequentially from $2.9 billion in the third quarter; net income was $202 million, or $0.76 per diluted share.
Full year 2024 revenue rose 13% to $11.9 billion, and net income was $60 million, or $0.26 per share, versus a 2023 net loss of $651 million.
Full year 2024 Adjusted EBITDA excluding special items was $1.6 billion, and the company paid a quarterly dividend of $0.10 per share.
For 2025, alumina production is expected at 9.5 to 9.7 million metric tons, down from 2024, while aluminum production is expected at 2.3 to 2.5 million metric tons, up from 2024; first quarter aluminum segment impacts are expected to be unf
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Alcoa filing is on SEC EDGAR ↗. 8-K briefs of other companies →