Financial Performance - Net income increased sequentially to $90 million, or $0.38 per common share, reflecting higher alumina prices and lower raw material costs[2][4] - Adjusted EBITDA excluding special items increased sequentially to $455 million, primarily due to higher alumina prices and lower raw material costs[2][5] - Net income attributable to Alcoa Corporation for the quarter ended September 30, 2024, was $90 million, compared to a net loss of $168 million in the same period last year[22] - Basic earnings per share (EPS) for the quarter ended September 30, 2024, was $0.39, compared to a loss of $0.94 in the same period last year[19] - Diluted EPS for the quarter ended September 30, 2024, was $0.38, compared to a loss of $0.94 in the same period last year[20] - For the nine months ended September 30, 2024, Alcoa reported a net loss of $142 million, an improvement from a net loss of $501 million in the same period last year[24] - Net loss attributable to Alcoa Corporation for the nine months ended September 30, 2024, was $651 million, compared to a net income of $90 million in the same period of 2023[30] - Adjusted EBITDA for Q3 2024 was $429 million, compared to $291 million in Q2 2024 and $68 million in Q3 2023[37] - Free cash flow for Q3 2024 was -$3 million, compared to $123 million in Q2 2024 and -$76 million in Q3 2023[40] Production and Shipments - Alumina production decreased 4% sequentially to 2.44 million metric tons due to the full curtailment of the Kwinana refinery[3] - Aluminum production increased 3% sequentially to 559,000 metric tons due to progress on the Alumar smelter restart[3] - The company expects 2024 Alumina segment shipments to range between 12.9 and 13.1 million metric tons, an increase of 0.2 million metric tons from prior projections[11] - Bauxite production in 3Q23 reached 10.7 million dry metric tons (mdmt), with third-party shipments at 1.9 mdmt[32] - Alumina production in 3Q23 was 2,805 thousand metric tons (kmt), with third-party shipments at 2,374 kmt[32] - Aluminum production in 3Q23 was 532 kmt, with total shipments at 630 kmt[32] Sales and Revenue - Sales for the quarter ended September 30, 2024, were $2,904 million, a slight decrease from $2,906 million in the previous quarter but an increase from $2,602 million in the same quarter last year[22] - Total sales for the nine months ended September 30, 2024, were $8,409 million, up from $7,956 million in the same period last year[24] - Third-party alumina sales in 3Q23 were $846 million, with an average realized price of $354 per metric ton[32] - Third-party aluminum sales in 3Q23 were $1,644 million, with an average realized price of $2,647 per metric ton[32] - Sales for Q3 2024 were $2.904 billion, compared to $2.906 billion in Q2 2024 and $2.602 billion in Q3 2023[46] Costs and Expenses - Cost of goods sold for the nine months ended September 30, 2024, was $7,330 million, slightly lower than $7,388 million in the same period last year[24] - Research and development expenses for the nine months ended September 30, 2024, increased to $40 million from $25 million in the same period last year[24] - Provision for depreciation, depletion, and amortization for the nine months ended September 30, 2024, was $483 million, up from $469 million in the same period last year[24] - Restructuring and other charges for the nine months ended September 30, 2024, were $250 million, compared to $195 million in the same period last year[24] - Restructuring and other charges for the quarter ended September 30, 2024, amounted to $30 million[35] - Other special items for the quarter ended September 30, 2024, included a net unfavorable change in mark-to-market energy derivative instruments of $31 million[35] Acquisitions and Divestitures - The company completed the acquisition of Alumina Limited on August 1, 2024, strengthening its market leadership[2][6] - Alcoa announced the sale of its 25.1% interest in the Ma'aden joint ventures for approximately $1.1 billion, expected to close in the first half of 2025[6] Agreements and Contracts - Alcoa secured a new 9-year power agreement with AGL Energy Limited for 287 megawatts to support operations at the Portland Aluminium Smelter starting July 1, 2026[8] - The company announced a long-term agreement to supply up to 16.5 million tonnes of smelter grade alumina to Aluminium Bahrain B.S.C. over 10 years[9] Tax and Operational Expenses - Alcoa expects fourth quarter 2024 operational tax expense to approximate $120 million to $130 million, subject to market conditions and jurisdictional profitability[12] Cash Flow and Liquidity - Cash and cash equivalents increased to $1,313 million as of September 30, 2024, up from $944 million at the end of 2023, reflecting a 39.1% increase[26] - Net cash provided from operations improved to $207 million for the nine months ended September 30, 2024, compared to a net cash used of $107 million in the same period of 2023[29] - Cash and cash equivalents and restricted cash at the end of the period stood at $1,410 million, a 36.9% increase from $1,030 million at the end of the same period in 2023[29] - Net debt as of September 30, 2024, was $1.632 billion, compared to $923 million as of December 31, 2023[42] - Adjusted net debt as of September 30, 2024, was $2.213 billion, compared to $1.580 billion as of December 31, 2023[45] Assets and Liabilities - Total current assets rose to $4,866 million, a 10.5% increase compared to $4,405 million at the end of 2023[26] - Long-term debt increased significantly to $2,469 million, up 42.5% from $1,732 million at the end of 2023[26] - Total liabilities increased to $9,292 million as of September 30, 2024, up 11.8% from $8,310 million at the end of 2023[26] - Receivables from customers increased to $862 million as of September 30, 2024, up 31.4% from $656 million at the end of 2023[26] - Total debt as of September 30, 2024, was $2.945 billion, compared to $1.867 billion as of December 31, 2023[45] - Cash and cash equivalents as of September 30, 2024, were $1.313 billion, compared to $944 million as of December 31, 2023[45] Segment Performance - Segment Adjusted EBITDA for Alumina in 3Q23 was $53 million, while Aluminum segment Adjusted EBITDA was $79 million[32] - Total Segment Adjusted EBITDA for the nine months ended September 30, 2024, was $734 million, compared to $547 million in the same period of 2023, a 34.2% increase[30] Capital Expenditures - Capital expenditures for the nine months ended September 30, 2024, were $411 million, up 19.8% from $343 million in the same period of 2023[29] - Capital expenditures for Q3 2024 were $146 million, compared to $164 million in Q2 2024 and $145 million in Q3 2023[40] Working Capital - Days working capital for Q3 2024 was 45 days, compared to 41 days in Q2 2024 and 50 days in Q3 2023[46] - DWC working capital for Q3 2024 was $1.414 billion, compared to $1.295 billion in Q2 2024 and $1.409 billion in Q3 2023[46] Adjusted Metrics - Net income attributable to Alcoa Corporation for the quarter ended September 30, 2024, was $90 million, with adjusted net income at $135 million[35] - Diluted EPS for the quarter ended September 30, 2024, was $0.38, with adjusted diluted EPS at $0.57[35]

The upcoming report from Alcoa (AA) is expected to reveal quarterly earnings of $0.21 per share, indicating an increase of 118.4% compared to the year-ago period. Analysts forecast revenues of $2.98 billion, representing an increase of 14.5% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 12.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company r ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

This is the official page of Croatian-American media personality Albert Anthony. Since 2023 he has been a contributor to global financial media portal Seeking Alpha, reaching +1MM investors worldwide & his content often averaging +25,000 views monthly. As an independent contributor, his content on the Seeking Alpha portal provides curated analysis of stocks trading on major US exchanges, with a strong focus on the financials and tech sector, and building a diversified dividend income portfolio, but also a f ...

Alcoa (NYSE: AA ) looks promising as an investment as the company returned to profitability. The good news is that Alcoa is expected to complete 2024 with a profit and continue its profitability in 2025. The company is likely toDavid focuses on growth & momentum stocks that are reasonably priced and likely to outperform the market over the long-term. He is a long term investor of quality stocks and uses options for strategy. David told investors to buy in March 2009 at the bottom of the financial crisis. Th ...

Michael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.Michael takes a macro-value-oriented approach to investment analysis and prides himself in being able to make investment recommendations based on cross-industry analysis.Analyst ...

Group 1 - Veta Resources Inc. is undergoing a reverse takeover by Metaworld Corporation, resulting in a name change to "Syntheia Corp." [1] - The company is consolidating its common shares at a ratio of 2.017753 pre-consolidation shares for one post-consolidation share, reducing the outstanding shares from 22,590,750 to 11,195,987 [1] - The consolidation was approved by shareholders during the annual and special meeting held on August 1, 2024 [1] Group 2 - Letters of transmittal regarding the name change and consolidation will be sent to registered shareholders [2] - Shareholders must send their pre-consolidation share certificates along with a properly executed letter of transmittal to TSX Trust Company [2] - Shareholders holding shares through intermediaries should contact their brokers or banks for assistance with the consolidation [2]

Core Insights - Alcoa is divesting its 25.1% stake in the Saudi Arabia Mining Company (Ma'aden) to enhance long-term competitiveness [1] - The transaction will yield $1.1 billion in Ma'aden stock and cash, including approximately 86 million shares valued at about $950 million [1] - Alcoa shares experienced a rise of about 7% in morning trading and have increased approximately 20% over the past year [1] Group 1 - The joint venture with Ma'aden was established in 2009, creating the world's largest, lowest-cost fully integrated aluminum facility [1] - Alcoa's CEO stated that the divestment simplifies the company's portfolio and enhances visibility in the value of its investment in Saudi Arabia [1] - The deal is anticipated to close in the first half of the next year [1]

Alcoa Corporation (NYSE:AA) Morgan Stanley's 12th Annual Laguna Conference September 12, 2024 10:00 AM ET Company Participants Molly Beerman - Executive Vice President and Chief Financial Officer Conference Call Participants Carlos De Alba - Morgan Stanley Carlos De Alba Good morning everyone. Thank you for joining the conference. And Molly Beerman, Executive Vice President and CFO of Alcoa. Very happy to have you here with us and do this again. And so look, maybe for those folks that might not be as famili ...

Alcoa Corporation (NYSE:AA) Jefferies Global Industrial Conference Call September 5, 2024 1:20 PM ET Company Participants Molly Beerman - Executive Vice President and Chief Financial Officer Conference Call Participants Christopher LaFemina - Jefferies Christopher LaFemina All right. Thank you all for attending this session. It's my pleasure to host Molly Beerman, who is the CFO at Alcoa and it's going to be a fireside chat format between me and Molly, but we're going to give you an opportunity to ask some ...