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Alcoa Corporation - AA STOCK NEWS

Welcome to our dedicated page for Alcoa Corporation news (Ticker: AA), a resource for investors and traders seeking the latest updates and insights on Alcoa Corporation stock.

Alcoa Corporation (NYSE: AA) is a global leader in the production and management of bauxite, alumina, and aluminum products. Established nearly 130 years ago, Alcoa has been a forerunner in the aluminum industry, continually innovating to make aluminum an affordable and essential part of modern life. The company operates in three segments: Bauxite, Alumina, and Aluminum, with the majority of revenue generated from the Aluminum segment. Alcoa is committed to sustainability, efficiency, and community strength, leveraging its substantial energy assets and extensive portfolio of value-added cast and rolled products. Recent initiatives include the curtailment of its Kwinana Alumina Refinery in Australia, the acquisition of Alumina Limited, and continued advancements in its ELYSIS™ technology, which aims to produce aluminum with zero direct greenhouse gas emissions.

Alcoa's business operations span the entire aluminum value chain, from bauxite mining and alumina refining to the production of primary aluminum. The company has a strong presence in both the U.S. and global markets, with significant contributions from its operations in Australia, Brazil, and Europe. Financially, Alcoa has shown resilience, adapting to market conditions and focusing on long-term profitability and shareholder value. The company's partnerships, including those with ELYSIS™ and Nexans, emphasize its commitment to sustainability and innovation in the aluminum industry. Alcoa's forward-looking strategies are geared towards enhancing operational efficiency, reducing environmental impact, and driving technological advancements.

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Alcoa reported its first quarter 2024 results, including the acquisition of Alumina and various operational improvements. Revenue was $2.6 billion, with a net loss of $252 million. Alcoa initiated the potential sale of the San Ciprián complex, completed the restart of a potline at Warrick Operations, and announced the curtailment of the Kwinana refinery in Australia. The company also paid a quarterly cash dividend of $0.10 per share and finished the quarter with a cash balance of $1.4 billion.
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Alcoa will release its first quarter 2024 financial results on April 17, 2024, after the NYSE trading hours. The financial results will be available on Alcoa's website, with a live webcast and conference call to discuss the results.
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Alcoa (NYSE:AA) closes $750 million green bond offering to finance sustainable projects, supporting its transition to a lower carbon economy.
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Alcoa (AA) enters into a Scheme Implementation Deed with Alumina Limited, recommending shareholders to vote for the transaction, expected to create long-term value for both companies. The Agreement terms involve an all-scrip transaction with Alumina Limited shareholders receiving 0.02854 Alcoa shares per share. The transaction values Alumina Limited at approximately $2.2 billion, with Alcoa owning 68.75% and Alumina Limited shareholders owning 31.25% of the combined company. The deal includes the issuance of CHESS Depositary Interests (CDIs) for Alcoa shares, allowing trading on the Australian Stock Exchange. The transaction is set to be completed in the third quarter of 2024, subject to shareholder and regulatory approvals.
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Alcoa (AA) announces an agreement with Alumina Limited (AWC) for the acquisition of Alumina Limited, strengthening Alcoa's position as a leading bauxite and alumina producer. The all-scrip transaction values Alumina Limited at approximately $2.2 billion, with Alumina Limited shareholders receiving 0.02854 Alcoa shares per Alumina Limited share. The acquisition aims to enhance operational flexibility, provide long-term value creation, and increase exposure to Alcoa's global aluminum business.
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Alcoa Corporation (NYSE: AA) declares a quarterly cash dividend of $0.10 per share for stockholders of record as of March 5, 2024, payable on March 21, 2024.
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Alcoa Corporation (NYSE: AA) CEO William F. Oplinger to present at BMO Global Metals, Mining & Critical Minerals Conference on February 27, 2024, discussing business, market conditions, and financial outlook. Presentation details available on Alcoa's website.
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Alcoa (NYSE:AA) has announced that it will supply global cable producer Nexans with aluminum produced from a revolutionary process that eliminates all direct greenhouse gas emissions from the traditional smelting process. The breakthrough ELYSIS™ technology, a partnership that replaces greenhouse gas emissions with oxygen, will be used by Nexans to manufacture various types of cables. The aluminum rod produced from this technology will have lower CO2 emissions, helping to reduce carbon dioxide emissions in the future. This collaboration further strengthens the long-term relationship between the two companies, with Alcoa already supplying Nexans with EcoLum™, a primary aluminum with a carbon footprint nearly three times lower than the industry average. The ELYSIS metal has also been used by Audi and Apple, both investors in the technology. Alcoa's commitment to supplying low-carbon aluminum for the world's transition to renewable energy is evident through this partnership.
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Alcoa Corporation (NYSE: AA) reported fourth quarter and full year 2023 results, showing progress on key priorities. Revenue for 4Q23 was $2,595M, with a net loss of $(150)M. Full year revenue was $10,551M, with a net loss of $(651)M. Alumina production decreased 1% sequentially, while aluminum production increased 2%. Total third-party revenue was flat sequentially at $2.60B. The company ended 2023 with a cash balance of $944M.
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Alcoa Corporation (NYSE: AA) plans to fully curtail production at its Kwinana Alumina Refinery in Western Australia in 2024, with the process starting in the second quarter. The refinery, with an annual nameplate production capacity of 2.2 million metric tons, has been operating at approximately 80 percent of its capacity since January 2023. The decision to curtail the facility is based on factors such as its age, scale, operating costs, current bauxite grades, and market conditions. This will result in a phased reduction of the workforce from around 800 employees to approximately 250 by the third quarter of 2024. Alcoa acknowledges the impact on workers, business partners, and the community, expressing gratitude for their support over the refinery's 60-year operation.
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FAQ

What are Alcoa Corporation's main business segments?

Alcoa operates in three main segments: Bauxite, Alumina, and Aluminum, with the Aluminum segment generating the majority of its revenue.

What recent initiatives has Alcoa undertaken?

Recent initiatives include the curtailment of the Kwinana Alumina Refinery in Australia, the acquisition of Alumina Limited, and advancements in ELYSIS™ technology for zero-emission aluminum production.

What is ELYSIS™ technology?

ELYSIS™ is a groundbreaking technology developed by Alcoa and Rio Tinto that aims to eliminate all direct greenhouse gas emissions from the aluminum smelting process, instead emitting oxygen.

How does Alcoa contribute to sustainability?

Alcoa focuses on sustainability by innovating in low-carbon aluminum production, efficiently managing energy assets, and participating in partnerships like ELYSIS™ to reduce environmental impact.

Where does Alcoa generate most of its revenue?

Alcoa generates the majority of its revenue from the Aluminum segment, with significant contributions from its operations in the United States.

What is Alcoa's approach to community engagement?

Alcoa is committed to building stronger communities through responsible operations, continuous innovation, and sustainable practices that prioritize safety and environmental stewardship.

Why is Alcoa curtailing its Kwinana Alumina Refinery?

Alcoa decided to curtail the Kwinana Alumina Refinery due to factors including its age, scale, operating costs, and current market conditions.

What financial strategies does Alcoa employ?

Alcoa focuses on long-term profitability and shareholder value, adapting to market conditions, and making strategic investments in technology and sustainability.

Who are Alcoa's major partners?

Alcoa's major partners include Rio Tinto in the ELYSIS™ technology partnership and Nexans for supplying low-carbon aluminum rod.

How does Alcoa plan to enhance its operational efficiency?

Alcoa plans to enhance operational efficiency through productivity programs, technological advancements, and strategic initiatives like the acquisition of Alumina Limited.

Alcoa Corporation

NYSE:AA

AA Rankings

AA Stock Data

6.27B
179.56M
1.09%
86.09%
7.11%
Alumina Refining and Primary Aluminum Production
Manufacturing
Link
United States of America
PITTSBURGH