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 net loss of $392 million for Q4 2021, despite achieving its highest annual net income of $429 million. Revenue rose to $3.3 billion, a 7% sequential increase, driven by strong alumina and aluminum pricing. The company generated $565 million in cash from operations and ended the year with $1.9 billion in cash. The financial results were impacted by $1.1 billion in restructuring charges. Alcoa continues to focus on sustainability and forecasts stable earnings in Q1 2022 amid ongoing market challenges.
Alcoa Corporation (NYSE: AA) has announced significant leadership changes by appointing Renato Bacchi as Chief Strategy Officer and Kelly Thomas as Chief Commercial Officer. Bacchi, currently the Senior Vice President of Corporate Development, will start in his new role on February 1, 2022. Thomas will join Alcoa on February 14, 2022, and will oversee commercial strategies globally. These appointments aim to bolster Alcoa's executive team to advance the company's strategic priorities.
Alcoa Corporation has announced a two-year curtailment of its San Ciprián aluminum plant in Spain due to high energy prices. The agreement, effective January 1, 2022, aims to address the facility's challenges with a commitment to restart operations in January 2024. During the curtailment, the company will secure long-term power agreements and invest $68 million in capital and $35 million in restart costs. The plant is expected to incur a net loss of $20 million to $25 million in 2022, following a projected loss of $65 million in 2021.
Alcoa Corporation (NYSE: AA) will announce its fourth quarter and full year 2021 financial results on January 19, 2022, after market close. A conference call for discussion will start at 5:00 p.m. EST. The press release will be accessible via the Alcoa website and on Twitter @Alcoa. Investors can participate in the call by dialing +1 (877) 883-0383 (Domestic) or +1 (412) 902-6506 (International). Replay will be available until January 26, 2022.
Alcoa Corporation (NYSE: AA) announced the acquisition of additional group annuity contracts, enhancing its balance sheet and mitigating pension plan volatility. The new contracts will facilitate the transfer of approximately
Alcoa Corporation (NYSE: AA) has announced the permanent closure of 146,000 metric tons of aluminum smelting capacity at the Wenatchee Works in Washington, which has been idle since 2015. The decommissioning process will begin immediately, with expected restructuring costs of approximately $75 million and cash outlays of about $60 million over seven years. This closure aligns with Alcoa's strategy to optimize its smelting portfolio, achieving 60% of its capacity review goal.
Alcoa Corporation (NYSE: AA) announced that William F. Oplinger, Executive Vice President and Chief Financial Officer, will participate in a virtual Q&A session at the Citi Conference on December 1, 2021, starting at 8:45 a.m. EST.
The session will include introductory remarks and cover the company's business outlook. A live audio webcast will be accessible via the Investors section of www.alcoa.com, along with a slide presentation and an audio replay of the session afterward.
Alcoa Corporation (NYSE: AA) announced the purchase of group annuity contracts to transfer approximately $1 billion of pension obligations for certain U.S. retirees. This transfer, expected to complete soon, aims to strengthen Alcoa's balance sheet and mitigate pension plan obligation volatility. Athene Holding, Ltd. (NYSE: ATH) will manage payments for 11,200 participants, with no changes to benefits. However, a non-cash settlement charge of approximately $565 million (or $2.96 per share) will impact the 2021 fourth quarter earnings. Post-transfer, U.S. pension plans will be over 95% funded.
Alcoa Corporation (NYSE: AA) announced that William F. Oplinger, Executive Vice President and CFO, will participate in a Q&A session at the Goldman Sachs Global Metals & Mining Conference on November 17, 2021, at 10:00 a.m. EST. Oplinger will provide introductory comments on Alcoa's business and outlook. A live audio webcast will be available on Alcoa's website, along with a slide presentation starting at 7:00 a.m. EST on the same day. An audio replay will be accessible post-event.
Alcoa is a leader in aluminum products, founded 135 years ago, focusing on sustainability and innovation.
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