Alcoa Corp Stock Price, News & Analysis

Alcoa Corporation (NYSE: AA) will participate in the Bank of America Securities 2022 Global Metals, Mining & Steel Conference on May 17, 2022, at 4:00 p.m. in Miami, Florida. The session will feature Roy C. Harvey and William F. Oplinger discussing the company's market outlook. A real-time audio webcast will be accessible on Alcoa's website, with a slide presentation available from 7:00 a.m. EDT the same day. A transcript and replay will follow post-session.

Alcoa Corporation (NYSE: AA) has declared a quarterly cash dividend of $0.10 per share. This dividend will be distributed on June 3, 2022, to shareholders who are on record as of May 17, 2022. Alcoa, a leader in the aluminum industry, aims to drive sustainability and operational excellence. The company continues to focus on innovative processes to enhance efficiency and community strength.

Alcoa Foundation has partnered with the International Union for Conservation of Nature (IUCN) to explore how ecosystem restoration can enhance biodiversity and local community benefits. Funded by a $1.5 million grant, this three-year project will investigate restoration efforts in Iceland and Brazil. The initiative aims to create a viability assessment framework and contribute to global biodiversity goals, including the UN's Decade on Ecosystem Restoration.

Alcoa Corporation (NYSE: AA) reported strong first quarter 2022 results with record net income of $469 million ($2.49 per share) and adjusted net income up 21% to $577 million ($3.06 per share). The company's Adjusted EBITDA reached $1,072 million, a 20% sequential increase, driven by higher aluminum prices.

Alcoa concluded the quarter with a cash balance of $1.6 billion and repurchased $75 million in shares. The company anticipates higher third-party prices for alumina and aluminum in Q2, despite facing increased costs of approximately $115 million.

Alcoa Corporation (AA: NYSE) has signed a supply agreement to deliver low-carbon EcoLum™ aluminum to Speira, enhancing its sustainability initiatives. EcoLum, part of Alcoa's Sustana™ product line, promises significant carbon emissions reduction, with a footprint three and a half times better than the global average. The partnership aims to meet rising demand for eco-friendly products, especially in Europe, with expectations of tripling sales for EcoLum and EcoDura in 2022. Over 80% of Alcoa's operations utilize renewable energy, aligning with its net-zero greenhouse gas ambitions by 2050.

Alcoa Corporation has commenced the restart of aluminum production at its Alumar smelter in São Luís, Brazil, energizing the first 20 of its 710 smelting pots. The smelter is expected to reach its full capacity of 447,000 metric tons by the end of 2022, with Alcoa's share being 268,000 metric tons. This initiative aims to meet the increasing global demand for sustainably-sourced aluminum and is expected to benefit various stakeholders in Brazil's Maranhão state.

Alcoa Corporation (NYSE: AA) has secured $7.7 million in funding from Australian governments to pilot new carbon reduction technology as part of its Refinery of the Future initiative. The funds include $6.4 million from the Australian Renewable Energy Agency (ARENA) and $1.3 million from the Clean Energy Future Fund. The project aims to explore electric calcination, which could significantly cut carbon emissions and save water. The pilot will start in 2023 and is part of Alcoa's broader goal to decarbonize alumina refining.

Alcoa Corporation (NYSE: AA) has achieved provisional certification from the Aluminium Stewardship Initiative (ASI) for its Massena facility in New York, recognized for its commitment to sustainability. This facility, operational since 1902, boasts a capacity of 130,000 metric tons, powered entirely by renewable hydroelectricity. With this certification, Alcoa now has 16 facilities certified by ASI globally. The certification underscores Alcoa's goal of promoting sustainable aluminum production, aligning with core objectives of operational efficiency and product differentiation.