Alcoa Corp Stock Price, News & Analysis

Alcoa Corporation has announced its supply of sustainable aluminum for the Audi e-tron GT wheels, utilizing a groundbreaking technology that eliminates direct carbon emissions from smelting. This aluminum is sourced for RONAL GROUP, integrating ELYSIS^TM zero-carbon emissions technology and EcoLum™, a low-carbon product. ELYSIS technology replaces traditional carbon anodes with inert materials, showing promise for sustainable aluminum production. This partnership enhances Audi's sustainability efforts while ensuring high-performance alloy wheels made using 100% green electricity in Germany.

Alcoa Corporation has announced new five-year energy agreements for the Portland Aluminium Smelter in Victoria, Australia, with AGL, Alinta Energy, and Origin. Starting August 1, 2021, these agreements will enhance competitiveness. The Australian Federal Government plans to contribute up to $14.8 million annually for four years to support the smelter's participation in the Reliability and Emergency Reserve Trader scheme. The Victorian Government also plans to match this funding. Currently, production is at 85% of the smelter's capacity of 358,000 metric tons annually.

Alcoa Corporation (NYSE:AA) announced the pricing of $500 million in 4.125% senior notes due 2029, backed by guarantees from Alcoa and its subsidiaries. The proceeds will fund a $500 million contribution to U.S. defined benefit pension plans, redeem outstanding 6.75% Senior Notes due 2024, and cover transaction expenses. The redemption of $750 million in 2024 Notes is scheduled for April 7, 2021, at a premium. The notes will be sold to qualified buyers under Rule 144A and Regulation S, and are not registered under the Securities Act.

Alcoa Corporation (NYSE:AA) has announced a proposed offering of $500 million in senior notes by its wholly-owned subsidiary, Alcoa Nederland Holding B.V. The proceeds will be mainly used to contribute to U.S. defined benefit pension plans and to redeem outstanding 2024 Notes. The notes are to be sold in a private placement and will not be registered under the Securities Act. Alcoa aims to ensure financial stability while managing its debt obligations through this issuance.

Alcoa Corporation has announced that its CEO, Roy C. Harvey, and CFO, William F. Oplinger, will participate in two upcoming investor conferences. Harvey will speak in a Q&A session at the BMO 30th Global Metals & Mining Virtual Conference on March 2, 2021, at 11:00 a.m. EST, while Oplinger will participate in the J.P. Morgan 2021 Global High Yield & Leveraged Finance Virtual Conference on March 3, 2021, at 10:00 a.m. EST. Webcasts for both events will be available on Alcoa's website, alongside a presentation starting March 1, 2021.

Alcoa Corporation (NYSE: AA) reported its fourth quarter and full-year 2020 results, showcasing resilient operations amid COVID-19. Key highlights include a 15% increase in sales revenue for value-add products and record production in the Bauxite segment. The company generated $394 million in cash from operations, concluding the year with a cash balance of $1.6 billion. Despite a net loss of $170 million for 2020, improvements in cash management and production efficiency were noted. The planned sale of non-core assets is expected to generate approximately $840 million, supporting long-term strategic goals.

Alcoa Corporation (NYSE: AA) plans to release its fourth quarter and full year 2020 financial results on January 20, 2021, after market close. A conference call to discuss these results will be held at 5:00 p.m. EST, webcasted live via Alcoa's website. The earnings report and presentation will also be accessible in the “Investors” section of their site. A telephone replay will be available until January 27, 2021, and further updates will be communicated through Alcoa's website and social media channels.

Alcoa Corporation has suspended its plans to curtail operations at the San Ciprián aluminum smelter in Spain, pending a review of a court ruling that deemed a collective dismissal process null and void. The ruling, issued on December 17, 2020, means Alcoa will avoid incurring estimated charges of $35 million to $40 million related to employee layoffs. However, a labor strike continues to affect operations, with an anticipated negative impact on income before taxes of about $10 million in Q4 2020. The company acknowledges that restructuring is still necessary due to ongoing structural issues.

Alcoa Corporation has announced that its Fjarðaál smelter in Iceland, Lista smelter in Norway, and San Ciprián refinery in Spain have achieved certifications from the Aluminium Stewardship Initiative (ASI). With these additions, Alcoa now holds Performance Standard certifications for 13 sites, including various bauxite mines, alumina refineries, and aluminum smelters. The ASI certifications reinforce Alcoa's commitment to sustainable manufacturing practices and enable the marketing of certified products.