Core Insights - Alcoa Corporation's recent financial performance reflects the changing dynamics of the aluminum industry amid fluctuating commodity prices and geopolitical uncertainties [1] Financial Performance - Alcoa reported total third-party revenue of $3.0 billion for the second quarter, representing a 10% sequential decrease [1] - The adjusted EBITDA for the second quarter of 2025 was $313 million, surpassing Bank of America's estimate of $278 million and Bloomberg's consensus of $292 million [3] - Full-year 2025 EBITDA is now projected at $1.87 billion, an increase from the previous estimate of $1.62 billion, with earnings per share expected to rise to $3.19 from $2.52 [7] Segment Performance - In the Alumina segment, third-party revenue decreased by 28% due to a decline in average realized prices, although this was partially offset by increased shipments [2] - The Aluminum segment's EBITDA outperformed expectations, likely due to lower energy costs and an improved product mix [3] Future Outlook - For the third quarter of 2025, Alcoa anticipates a $30 million sequential benefit, net of tariffs, and has raised third-quarter EBITDA estimates to $328 million from $205 million [6] - The company expects alumina prices to be supported by widespread curtailments in China, where over 80% of refineries are unprofitable, despite risks from new supply in Indonesia or India [5] Analyst Ratings - BofA analyst Lawson Winde reiterated an Underperform rating on Alcoa but raised the price forecast from $26 to $27 [2][4]

CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) announced today that it had priced its previously announced private offering (the “Secured Notes Offering”) of $400 million aggregate principal amount of 6.875% senior secured notes due August 2032 (the “Secured Notes”). The Secured Notes will be issued at a price equal to 100.00% of their aggregate principal amount. The Secured Notes will pay interest semi-annually in arrears on February 1 and August 1 of each ye ...

Financial Data and Key Metrics Changes - Revenue decreased by 10% sequentially to $3 billion, with net income attributable to Alcoa at $164 million compared to $548 million in the prior quarter, resulting in earnings per share of $0.62 [10][11] - Adjusted EBITDA was $313 million, down $542 million sequentially, primarily due to lower alumina and aluminum prices and increased U.S. Section 232 tariff costs [11][12] - Year-to-date return on equity was positive at 22.5%, with cash flow from operations providing $488 million [15][14] Business Line Data and Key Metrics Changes - In the Alumina segment, third-party revenue decreased by 28% due to lower average realized prices, partially offset by increased shipments [10] - The Aluminum segment saw a 3% increase in third-party revenue due to increased shipments and favorable currency impacts, despite a decrease in average realized prices [10][11] - Adjusted EBITDA for the Alumina segment decreased by $525 million, while the Aluminum segment's adjusted EBITDA decreased by $37 million, impacted by U.S. Section 232 tariff costs [12][13] Market Data and Key Metrics Changes - Alumina prices rebounded somewhat after a sharp decline, with over 80% of Chinese refineries operating at a deficit due to high bauxite prices [27] - U.S. Midwest premium increased to $0.68 per pound but remains below the estimated $0.75 needed to fully offset tariff costs [30][55] - Demand conditions remain steady in Europe and North America, with mixed sector performance; electrical and packaging sectors are performing well, while automotive is affected by tariff-related uncertainty [32] Company Strategy and Development Direction - The company is focused on executing its 2025 priorities, enhancing operational competitiveness, and navigating market dynamics to deliver long-term value [36] - Alcoa is advocating for trade policies that support both the company and the broader U.S. aluminum industry, while also redirecting Canadian production to non-U.S. customers to mitigate tariff impacts [9][77] - The long-term demand forecast for aluminum remains robust, driven by megatrends in transportation, construction, packaging, and electrical sectors [23][24] Management's Comments on Operating Environment and Future Outlook - Management noted that while tariffs create near-term volatility, the broader outlook for aluminum demand remains strong, supported by global megatrends [23][26] - The company expects aluminum shipments to be adjusted to 2.5 to 2.6 million metric tons for the year, down from an initial estimate of 2.6 to 2.8 million metric tons due to disruptions at the San Ciprian smelter [16] - Management expressed confidence in navigating the challenges posed by tariffs and market dynamics, with plans to continue engaging with policymakers [8][77] Other Important Information - The company successfully concluded a five-year tax dispute in Australia with a favorable ruling, affirming no additional tax owed [7] - Alcoa's cash position at the end of the quarter was $1.5 billion, with plans to use proceeds from the sale of its stake in the Mauden joint ventures to pay related taxes and transaction fees [14][15] - The company is progressing with approvals for new mine regions in Western Australia, although timelines have been extended due to the complexity of the process [34][36] Q&A Session Summary Question: Impact of potential 50% tariffs on Brazil - Management indicated that the impact depends on whether alumina is excluded from the tariffs, with options to source from Western Australia if necessary [40][41] Question: Contingency plans for Western Australia - Management stated that no cost impact is anticipated for 2025 or 2026, with contingency plans in place to manage delays [42][46] Question: Tariff costs and Midwest premium offset - Management clarified that the second quarter tariff costs were approximately $115 million, with a Midwest premium uptick of about $60 million, resulting in margin compression [50][51] Question: San Ciprian cash burn expectations for 2026 - Management noted that while the smelter is expected to be profitable post-ramp-up, the refinery will likely incur losses [60][62] Question: Restarting spare capacity at Warrick - Management explained that restarting the fourth line at Warrick requires significant investment and time, making it contingent on tariff stability [68][70] Question: Discussions with the government regarding tariffs - Management emphasized ongoing advocacy efforts to educate the government on the aluminum market's tightness and the importance of U.S.-Canada supply chains [116][120] Question: Capital management and debt reduction - Management indicated progress in reducing net debt, with plans to evaluate capital allocation priorities once the target range is reached [120][121]

Alcoa (AA) Q2 2025 Earnings Call July 16, 2025 05:00 PM ET Company ParticipantsLouis Langlois - SVP - Treasury & Capital MarketsWilliam Oplinger - President, CEO & DirectorMolly Beerman - EVP & CFOHenry Hearle - Equity Research AssociateBill Peterson - Equity ResearchJohn Tumazos - Owner & CEOGlyn Lawcock - Head of Resources ResearchConference Call ParticipantsKatja Jancic - Metals & Mining AnalystAlex Hacking - Equity Research Analyst - Metals & MiningDaniel Major - Metals & Mining AnalystChris LaFemina - ...

2 nd Quarter Earnings Alcoa Corporation July 16, 2025 1 Cautionary Statement regarding Forward-Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "aims," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," "goal ...

Alcoa, the largest US aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter, showing how Trump’s trade agenda has affected the industry https://t.co/xiwLp5xvpR ...

CHICAGO, July 16, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) (“Century”) announced today a proposed private offering of $400 million aggregate principal amount of senior secured notes due July 2032 (the “Secured Notes”) subject to market and other conditions (the “Secured Notes Offering”). Century intends to use the net proceeds from the Secured Notes Offering to refinance Century’s 7.50% Senior Secured Notes due 2028 (the “2028 Notes”), to repay borrowings under Century’s credit facil ...

转自：草原云 7月16日清晨，满载巨大真空出铝包的车辆从包头铝业鱼贯而出，到达数公里外的汇泽铝业车间内。这 些铝水被直接注入生产线，经配料、浇铸、冷却，瞬间蝶变为光亮的合金铝锭与铝棒，奔向全国市场。 这条"铝水不落地"的短流程生产线，正是包头东河区铝产业链高效闭环的生动缩影。 头铝业产业园区。（资料图） 包头铝业的产业基因深植于1958年——新中国第一块铝锭在此诞生，拉开了自主电解铝工业的序幕。历 经67载积淀，今日的包头铝业已坐拥150万吨电解铝、6万吨高纯铝产能，稳居全球偏析法高纯铝生产龙 头。这深厚的根基，为产业跃升提供了坚实支点。 2024年7月，包头市擘画新蓝图：将铝产业打造为第四个千亿级产业集群。主战场东河区当仁不让，扛 起升级大旗。"我们每周组织包铝及下游企业座谈，全力解决铝水运输、供应等难题，助推园区企业壮 大。"包头铝业产业园区负责人道出政企协同的力度与温度。 园区盛泰汽车零部件制造有限公司。（资料图） 数据飙升背后，是质量与速度的比翼齐飞。2024年，包头铝业产业园区荣膺"国家级绿色工业园区"，绿 电铝已成东河闪亮名片。包铝900MW风电消纳及1200MW新能源项目稳步推进，园区清洁能源占 ...

So when we look at permitting, we think, okay, we want to build power lines that's steel, aluminum, and copper. There's some new fears of tariffs on those exact things. Does that hurt or slow down our ability to invest in AI infrastructure if there are tariffs on the stuff we need to build that stuff.So let's think steel for a minute. We've all seen a steel blast furnace. We are in Pittsburgh.I think it's fairly know what a blast furnace looks like. It looks like pouring molten lava, right. That's what Righ ...

Key Takeaways Alcoa's Aluminum segment is likely to have gained from strong slab, billet and rod demand in key regions. Rising aluminum prices and San Ciprian's restart are expected to support Aluminum segment sales. Alumina segment sales likely fell due to China's bauxite supply issues and global currency headwinds.Alcoa Corporation (AA) is likely to register an increase in the top line from last year’s quarterly reading when it reports second-quarter 2025 earnings on July 16, after market close. The Zac ...