Alcoa (NYSE:AA) FY Conference September 10, 2025 02:30 PM ET Company ParticipantsMolly Beerman - EVP & CFOConference Call ParticipantsCarlos de Alba - Equity Research AnalystCarlos de AlbaGood morning, everyone. Thank you very much for joining the Laguna Industrial Conference and this session with Molly Beerman, Alcoa Corporation's Chief Financial Officer. Thank you very much for being here. Molly, it's becoming a nice tradition.Molly BeermanThanks, Carlos. We appreciate the opportunity.Carlos de AlbaVery h ...

Financial Performance & Outlook - Cleveland-Cliffs reported revenues of $4.9 billion for Q2 2025[6] - Adjusted EBITDA for Q2 2025 was $97 million, with expectations for continued improvement from Q2 to Q3[6] - The company released over $200 million in inventory working capital during Q2 2025[6] - Cleveland-Cliffs expects to reduce steel unit costs by approximately $160 per ton over three years[55] Steel Shipments & Market Dynamics - Record quarterly steel shipments of 4.3 million net tons were achieved in Q2 2025[6] - Steel shipments increased by 150,000 tons from the prior quarter[11] - The average selling price (ASP) increased by $35 per ton due to higher index pricing, partially offset by lower slab pricing[11] Asset Optimization & Cost Savings - Flat-rolled optimization is expected to yield approximately $145 million in annual savings[15] - Repositioning away from non-core assets is projected to generate around $165 million in annual savings[15] - The company announced the idling of several facilities, including Riverdale, Conshohocken, and Steelton, resulting in approximately $90 million, $45 million, and $30 million in expected annual savings, respectively[16] Trade & Tariffs - Tariffs on steel imports from various countries, including Canada, Brazil, and Mexico, have increased to 50%[18] - Imports of light vehicles from Japan and South Korea are down by more than 30% year-to-date[22] Capital Expenditure & Debt Management - The 2025 capital expenditure guidance has been lowered to approximately $600 million[57] - The company has a liquidity of $2.7 billion[6]