Alcoa Corp Stock Price, News & Analysis

Alcoa Corporation (NYSE: AA) aims for net-zero greenhouse gas (GHG) emissions by 2050, enhancing its sustainability strategy. The company plans to cut direct and indirect GHG emissions from aluminum smelting and alumina refining by 30% by 2025 and 50% by 2030 from 2015 levels. Alcoa is investing in low-carbon technology, including the ELYSIS zero-carbon smelting process and mechanical vapor recompression (MVR) in Australia. These efforts support Alcoa's commitment to environmental, social, and governance practices.

Alcoa Corporation (NYSE: AA) is set to enter the high-purity alumina market through a collaboration with FYI Resources Ltd (ASX: FYI) via its subsidiary, Alcoa of Australia Limited. Alcoa of Australia will have a 65% stake in the project, which plans to develop an 8,000 metric-ton-per-year facility in stages, with initial funding of $5 million for 2021-2022.

The total estimated cost for construction is around $200 million. The high-purity alumina market is projected to grow at nearly 20% annually through 2028.

Alcoa Corporation (NYSE: AA) will announce its third quarter 2021 financial results on October 14, 2021, post-market close. A related press release and presentation will be accessible on Alcoa's website. A conference call will follow at 5:00 p.m. EDT, hosted by CEO Roy Harvey and CFO William Oplinger. Investors can participate via phone or listen to the webcast. Replay of the call will be available starting at 8:00 p.m. EDT on the same day until October 21, 2021.

Alcoa Corporation has announced plans to restart 268,000 mtpy of aluminum capacity at the Alumar smelter in Brazil. This facility has been idle since 2015, and the restart process will commence immediately, with molten metal expected by Q2 2022. The smelter will run on 100% renewable energy by 2024. The total estimated cost of the restart is around $75 million, with $15-$20 million in expenses anticipated for Q4 2021. This move is expected to enhance Alcoa’s global competitiveness and generate over 750 new jobs.

Alcoa Corporation (NYSE:AA) announced that William F. Oplinger, Executive Vice President and CFO, will participate in the Jefferies Base Metals & Battery Materials Summit on September 21, 2021, at 1:30 p.m. EDT. The virtual session will feature business insights and a Q&A segment. Investors can view the real-time webcast on Alcoa's website, www.alcoa.com. A slide presentation and audio replay will also be available post-session. Alcoa, a leader in aluminum production, continues to emphasize transparency through various communication channels.

Alcoa Corporation (NYSE:AA) announced that William F. Oplinger, the Executive Vice President and CFO, will participate in two investor conferences this month. The first is the Credit Suisse 34th Annual Basic Materials Conference on September 13 at 11:00 a.m. EDT, followed by the Morgan Stanley 9th Annual Laguna Conference on September 14 at 8:15 a.m. EDT. Real-time audio webcasts for both sessions will be available on Alcoa's website. A slide presentation will be available starting September 10 at 7:00 a.m. EDT.

Alcoa Corporation (NYSE: AA) has announced the **certification** of its **Deschambault** and **Aluminerie de Bécancour** smelters in Canada by the **Aluminium Stewardship Initiative (ASI)**, confirming adherence to sustainable manufacturing processes. With this, all three Canadian smelters are now ASI-certified, following the **Baie Comeau** smelter's certification in 2019. In total, Alcoa has achieved Performance Standard certifications for **15 locations**, including various bauxite mines and alumina refineries, enhancing its sustainability efforts and operational footprint.

Alcoa Corporation (NYSE: AA) announced that its subsidiary, Alcoa Nederland Holding B.V., will redeem all $500 million of its 7.00% notes due in 2026. The redemption date is set for September 30, 2021, at a price of 103.500% of the principal amount, plus accrued interest. Funding for this redemption will come from Alcoa's substantial cash balance, which was $1.65 billion as of June 30, 2021. This move reflects Alcoa's commitment to financial management and cost control in the industry.

Alcoa Corporation (NYSE: AA) reported a record quarterly net income of $309 million and earnings per share of $1.63 for Q2 2021, benefiting from strong aluminum pricing and improved customer demand. Adjusted EBITDA rose 19% sequentially to $618 million. Noteworthy financial actions included reducing total debt to $2.3 billion and a significant cash balance of $1.65 billion. The company sold its Eastalco site for $100 million and anticipates continued growth in 2021 amidst inflationary pressures. The outlook remains strong for the Aluminum segment with expected double-digit growth.