Every material Form 8-K Alcoa filed with the SEC in 2026, 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 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.
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.
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.
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
At its May 6, 2026 annual meeting, Alcoa stockholders approved an amended stock and incentive compensation plan that raises the authorized share count from 30,000,000 to 38,000,000 and extends the plan term to May 6, 2036. All 11 director nominees were elected to one-year terms, and PricewaterhouseCoopers LLP was ratified as auditor for 2026. A larger share pool can mean more potential dilution for existing shareholders, though the filing does not quantify that effect.
Stockholders approved the Amended Plan, raising authorized shares from 30,000,000 to 38,000,000 and extending the plan term to May 6, 2036.
All 11 director nominees were elected to one-year terms; Thomas J. Gorman received 196,582,796 votes for and 1,653,954 against.
PricewaterhouseCoopers LLP was ratified as independent auditor for 2026 with 215,964,136 votes for and 712,214 against.
The advisory vote on 2025 named executive officer compensation passed with 187,195,119 votes for and 10,898,440 against.
Alcoa and its subsidiaries signed Amendment No. 3 to their revolving credit agreement with JPMorgan Chase Bank, N.A. as administrative agent. The amendment extends the facility's maturity to June 27, 2028 and removes certain credit spread and sustainability rate adjustments, while the total commitment stays at $1.25 billion. The filing describes this as an amendment of existing financing rather than new borrowing, and it does not report any drawn amount.
Revolving facility maturity extended to June 27, 2028
Aggregate commitments remain at $1.25 billion
Credit spread adjustment and sustainability rate adjustments removed
Participating lenders received a fee of 0.05% of their commitments
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.
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.
Alcoa reported fourth quarter and full year 2025 results on January 22, 2026. Full year net income attributable to Alcoa was $1.2 billion, or $4.42 per diluted share, compared with $60 million, or $0.26 per share, in 2024, and revenue rose 8 percent to $12.8 billion. For shareholders, the company also guided to higher 2026 alumina and aluminum production, though it expects first quarter 2026 segment EBITDA to fall sequentially.
Full year 2025 revenue of $12.8 billion, up from $11.895 billion in 2024, with net income of $1.170 billion attributable to Alcoa
Fourth quarter 2025 net income of $226 million, or $0.85 per diluted share, versus $232 million, or $0.88, in the third quarter
2026 outlook: Alumina production of 9.7 to 9.9 million metric tons and Aluminum production of 2.4 to 2.6 million metric tons
First quarter 2026 expected sequential EBITDA headwinds of $30 million in Alumina and $70 million in Aluminum
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 →