Alcoa turned a nimble rerouting strategy into hard cash last quarter. The Pittsburgh-based aluminium maker posted net income of $164 million, or $0.62 per share, up from just $20 million a year earlier, after steering Canadian metal away from the United States once Washington doubled Section 232 duties to 50 percent. Adjusted earnings landed at...
READ MOREAlcoa, United States-based aluminium producer, and Ignis EQT, Spanish renewable-energy developer, have resumed the phased restart of the 228,000-tonne-per-year San Cibrao smelter in Galicia after securing government assurances that April’s nationwide power outage will not recur. The partners now expect the plant to remain loss-making to the tune of €77–94 million ($89–109 million) in 2025...
READ MOREAlcoa has reported $20 million in added costs for the first quarter of 2025, directly tied to new U.S. tariffs on aluminum imported from Canada. The 25% tariff, enacted on March 12, is projected to push the company’s second-quarter costs to $90 million, according to CFO Molly Bierman. The impact could worsen over the course...
READ MOREVanguard has surpassed BlackRock to become the largest shareholder in Alcoa, acquiring over eight million shares in the second half of 2024. This increase has pushed Vanguard’s stake in Alcoa to 10.03%, with a total of 25.98 million shares. In comparison, BlackRock holds 24.66 million shares, representing 9.52% of the company. The shift in shareholding...
READ MOREAlcoa’s subsidiary, Alumina Pty. Ltd., has announced a proposed $1 billion offering of senior notes, according to a company news release on March 3. The notes will be guaranteed on a senior unsecured basis by Alcoa and select subsidiaries and will be offered in a private placement to qualified institutional buyers. The pricing and terms...
READ MOREAlcoa has announced that its chairman, Steven Williams, will be leaving the company. Williams, who has served as chairman since 2021 and has been a board member since Alcoa’s separation from Arconic in 2016, will not seek re-election at the company’s annual shareholder meeting later this year. Williams is a veteran executive with decades of...
READ MOREAlcoa’s alumina production fell 8% annually, primarily due to the full curtailment of the Kwinana refinery, completed in June 2024. In contrast, aluminum production increased by 5%, driven by the restart of capacity at the Warrick smelter and continued progress at the Alumar smelter. For 2025, Alcoa projects alumina production between 9.5 and 9.7 million...
READ MOREAlcoa, the largest aluminum producer in the United States, reported a net profit of $60 million for 2024, reversing a loss of $651 million from the previous year. The company attributed its improved performance to lower raw material and energy costs, alongside higher alumina and aluminum prices, though these gains were partially offset by increased...
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