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 Corporation reports developments across its vertically integrated aluminum business, including bauxite mining, alumina refining and primary aluminum production. Company news commonly covers quarterly operating results, production trends in alumina and aluminum, commodity-price effects on profitability, and market commentary provided through earnings releases and industry conference presentations.
Recurring updates also include quarterly cash dividends, debt and liquidity actions involving Alcoa subsidiaries, governance and executive leadership changes, and operational matters at refining and smelting assets. Alcoa’s common stock trades on the NYSE under AA, and the company also references an ASX listing under AAI in its public releases.
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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.
Alcoa Corp. (NYSE: AA) has unveiled a new technology roadmap aimed at reinventing the aluminum industry toward sustainability. This includes a proprietary post-consumer scrap recycling process that could significantly decarbonize the aluminum supply chain. Key initiatives such as the Refinery of the Future and ELYSIS zero-carbon smelting technology aim to reduce operational costs and greenhouse gas emissions. The company targets net zero GHG emissions by 2050. Alcoa's ASTRAEA technology will purify aluminum scrap beyond commercial-grade purity, presenting a potential competitive edge in a carbon-constrained market.
Alcoa Corporation (NYSE: AA) has announced the restart of 35,000 mtpy of curtailed capacity at its Portland Aluminium smelter in Victoria, Australia. This capacity, idle since 2009, is expected to begin production in Q3 2022. The Portland Aluminium joint venture will operate at about 95% capacity post-restart, creating around 80 jobs (30 permanent and 50 temporary). The restart will cost approximately $28 million, with Alcoa's share estimated at $9 million, incurred between Q4 2021 and Q3 2022. This decision is anticipated to enhance the smelter's cost structure and competitiveness.
Alcoa Corporation (NYSE: AA) has successfully completed the sale of land and industrial assets in Texas, valued at $240 million. The sale included approximately 31,000 acres in Milam and Lee Counties, highlighted by the former Rockdale aluminum smelter site, which was permanently closed in 2017. The transaction, completed on October 29, 2021, yielded $230 million in net cash proceeds and is expected to contribute $200 million to other income in Q4 2021. This sale is part of Alcoa's strategy to unlock value from former sites and support economic development in host communities.
Alcoa Corporation (NYSE: AA) will host a virtual Investor Day on November 9, 2021. Key discussions will cover Alcoa's markets, operations, strategies, and capital allocation, including its capital returns program. The event features President Roy Harvey and CFO William Oplinger.
Pre-recorded presentations will be available on www.alcoa.com beginning November 8 at 8:00 a.m. EST. The live session starts at 9:00 a.m. EST, with a Q&A segment included.
Alcoa Corporation (NYSE: AA) reported record financial results for Q3 2021, achieving a net income of $337 million, or $1.76 per share, a 10% revenue increase to $3.1 billion, and $391 million in adjusted net income. The company plans to restart 268,000 metric tons of curtailed aluminum capacity in Brazil and redeemed $500 million in higher-interest notes to enhance its financial position. Despite these gains, Alcoa anticipates net income impacts of approximately $90 million in Q4 due to challenges at the San Ciprián facility and rising raw material costs.
Alcoa Corporation (NYSE: AA) announced a new quarterly cash dividend of $0.10 per share, to be paid on November 19, 2021, and initiated a $500 million share repurchase program. This decision follows significant improvements in the company's financial position, as highlighted by CEO Roy Harvey. CFO William Oplinger noted that these programs will be financed through operating cash flows and cash on hand. The company’s adjusted net debt is at a historical low, with no substantial debt maturities until 2027, indicating a strong balance sheet.
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.