Welcome to our dedicated page for Alcoa news (Ticker: AA), a resource for investors and traders seeking the latest updates and insights on Alcoa stock.
Alcoa Corp (NYSE: AA) is a global leader in aluminum production, spanning bauxite mining, alumina refining, and primary metal manufacturing. This page serves as a comprehensive resource for tracking the company’s official announcements, strategic initiatives, and market developments.
Investors and industry stakeholders will find timely updates on earnings reports, operational milestones, sustainability efforts, and leadership changes. Our curated collection ensures access to Alcoa’s press releases and verified news articles, providing clarity on factors influencing the aluminum sector and AA’s position within it.
Key focuses include production innovations, commodity market trends, and Alcoa’s initiatives in energy efficiency and circular manufacturing. Bookmark this page to stay informed on critical developments affecting one of the industry’s most vertically integrated producers.
Alcoa Corporation (NYSE: AA) reported a significant fourth quarter loss of $374 million, or $2.12 per share, along with an annual net loss of $102 million for 2022, despite a revenue increase to $12.5 billion, up 2% year-over-year. The fourth quarter revenue stood at $2.7 billion, down 7% sequentially. Adjusted net loss for Q4 was $123 million, or $0.70 per share. The company generated $118 million in cash from operations and ended the quarter with a robust cash balance of $1.4 billion. Alcoa anticipates lower alumina and aluminum shipments in 2023, driven by production curtailments at various sites, while focusing on strategic restarts and sustainable practices.
Alcoa Corporation (NYSE: AA) announced a restructuring of its Executive Leadership Team effective February 1, 2023, aimed at enhancing operational excellence, cost management, and innovation. William F. Oplinger will transition from CFO to COO, while Molly Beerman assumes the role of CFO. Renato Bacchi will become Chief Strategy & Innovation Officer, overseeing R&D. The company will see departures of John D. Slaven and Benjamin D. Kahrs. The restructuring aligns with Alcoa's commitment to operate sustainably and improve profitability in the aluminum industry.
Alcoa Corporation (NYSE: AA) will announce its fourth quarter and full year 2022 financial results on January 18, 2023, after trading closes. The financial results will be accessible in the Investors section of Alcoa's website, with a related presentation. A conference call to discuss the results is scheduled for 5:00 p.m. EST on the same day. Alcoa aims to provide transparent updates regarding its financial performance and company developments through various channels, underscoring its commitment to sustainability and innovation in the aluminum industry.
Alcoa Corporation (NYSE: AA) announced that William F. Oplinger, Executive VP and CFO, will participate in a Q&A session at the Goldman Sachs Global Metals & Mining Conference on November 16, 2022, at 9:45 a.m. EST in New York. Oplinger will provide insights on the company's market positioning and outlook.
An audio webcast will be available on Alcoa's website, with a slide presentation accessible from 7:00 a.m. EST on the same day. A transcript and audio replay will also be posted after the session.
Alcoa Corporation reported a net loss of $746 million for Q3 2022, a significant decline attributed to lower alumina and aluminum prices and higher energy costs. Revenue fell to $2.85 billion, down 22% sequentially, with alumina prices decreasing by 16% and aluminum prices by 17%. The company undertook major restructuring, incurring $652 million in charges primarily related to pension settlements. Despite challenges, Alcoa generated $134 million in cash from operations and repurchased $150 million in stock. With cash reserves of $1.4 billion, the company remains focused on operational stability and sustainable product offerings.
Alcoa Corporation (NYSE: AA) has declared a $0.10 quarterly cash dividend per share for its common stock. This dividend will be paid on November 18, 2022, to shareholders recorded by November 1, 2022. Alcoa continues to position itself as a leader in the aluminum industry, emphasizing sustainability and innovation.
Alcoa Corporation (NYSE: AA) announced a new power purchase agreement with Endesa to aid the San Ciprián aluminum smelter's restart in Spain. This deal will facilitate power balancing services from 2024 to at least 2030, providing up to 131 megawatts, covering over 30% of the smelter's energy needs. This agreement complements a prior deal with Greenalia for up to 183 megawatts. Together, these contracts could supply 75% of the smelter's base load power, with efforts ongoing to secure the remaining energy requirements.
Alcoa Corporation is set to announce its third quarter 2022 financial results on October 19, after the market closes. The results will be accessible in the “Investors” section of Alcoa's website. Additionally, a conference call to discuss these results will be held at 5:00 p.m. EDT on the same day. Investors can participate via domestic and international dial-in numbers, with a replay available until October 26. Alcoa is committed to providing updates on financial performance through various channels.
Alcoa Corporation (NYSE: AA) has introduced new high-strength alloys, enhancing its product offerings for various applications. The A210 ExtruStrong alloy, part of the 6000 series, is more than 40% stronger and offers superior corrosion resistance for extruded applications. Meanwhile, the C611 EZCast alloy, recognized at the 2022 International Die Casting Competition, supports efficient manufacturing in automotive megacasting, particularly for electric vehicle manufacturer NIO. These innovations align with Alcoa's vision of sustainable aluminum solutions.
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