Alcoa Corp

AA

Equity

ISIN US0138721065 / Valor 34298184

New York Stock Exchange, Inc (2024-12-24)

USD 38.61+0.08%

Alcoa Corp
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About company

Alcoa Corp is a leading company in the aluminum sector, known for its comprehensive involvement in the upstream segment of the industry. This encompasses the entire process from mining the raw materials needed for aluminum production to the creation of the metal itself. The company distinguishes itself through its SustanaTM brand, which offers a wide range of low-carbon aluminum products, highlighting its focus on sustainability within its product offerings. Alcoa's operations are global, indicating a significant presence in the aluminum market worldwide. The company's business model is structured around leveraging its extensive experience and capabilities in mining, refining, smelting, and casting aluminum, aiming to meet the growing demand for sustainable and high-quality aluminum products in various industries.

Summarized from source with an LLMView SourceSector: Energy

Revenue Stability

In the third quarter of 2024, Alcoa Corp reported total third-party revenue of $2.9 billion, which remained flat sequentially. The Alumina segment saw a 9% increase in third-party revenue due to a 22% rise in average realized third-party prices, despite lower shipments. Conversely, the Aluminum segment experienced a 5% decrease in third-party revenue, primarily due to reduced shipments.

Net Income Growth

Alcoa Corp's net income attributable to the corporation for the third quarter of 2024 was $90 million, or $0.38 per common share. This sequential increase was driven by higher alumina prices and lower raw material costs, alongside the absence of net income attributable to noncontrolling interest for the full quarter.

Adjusted Earnings Improvement

The adjusted net income for Alcoa Corp in the third quarter of 2024 was $135 million, or $0.57 per common share, excluding net special items of $45 million. These special items included a mark-to-market loss on energy contracts and restructuring charges related to closed locations, partially offset by tax and noncontrolling interest impacts.

EBITDA Increase

Alcoa Corp reported an adjusted EBITDA excluding special items of $455 million for the third quarter of 2024, marking a sequential increase of $130 million. This improvement was primarily attributed to higher alumina prices and reduced raw material costs.

Cash and Dividends

At the end of the third quarter of 2024, Alcoa Corp had a cash balance of $1.3 billion. The company provided $143 million in cash from operations and used $84 million for financing activities, which included $26 million in cash dividends on stock. Additionally, Alcoa completed the acquisition of Alumina Limited, enhancing its strategic position in the market.

Summarized from source with an LLMView Source

Key figures

14.3%1Y

-35.0%3Y

78.9%5Y

Performance

48.4%1Y

56.1%3Y

63.3%5Y

Volatility