Alcoa Corp Stock Price, News & Analysis

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.

Alcoa Corporation announced that its Fjarðaál smelter in Iceland, Lista smelter in Norway, and San Ciprián refinery in Spain earned certifications from the Aluminium Stewardship Initiative (ASI). This brings Alcoa's total certified sites to 13, including various bauxite mines, alumina refineries, and aluminum smelters. ASI's certification validates responsible aluminum production and sourcing practices. Alcoa emphasizes its commitment to sustainable operations and the strategic importance of environmental and social responsibility in its business model.

Alcoa Corporation has agreed to sell its rolling mill business at Warrick Operations to Kaiser Aluminum Corporation for approximately $670 million, comprising $587 million in cash and $83 million in liabilities. The sale is part of Alcoa's strategy to divest non-core assets and generate between $500 million and $1 billion in cash. Post-sale, Alcoa anticipates annual revenue declines of $800 million and net income drops of $45 million to $55 million. The transaction is expected to close by the end of Q1 2021.

Alcoa Corporation has announced that CFO William F. Oplinger will participate in a Q&A session at the Bank of America 2020 Leveraged Finance Virtual Conference on December 1, 2020, at 10:30 a.m. EST. Investors can access the live audio webcast via Alcoa’s website, starting from 8:00 a.m. for a related slide presentation. An audio replay will also be available afterward. Alcoa, a leader in aluminum products, emphasizes its commitment to financial transparency and operational excellence.

Alcoa Corporation announced that CFO William F. Oplinger will participate in a Q&A session at the virtual Goldman Sachs Global Metals & Mining Conference on November 19, 2020, at 9:00 a.m. EST. The session will be accessible via a live audio webcast on Alcoa's website, with a slide presentation available starting at 7:00 a.m. EST on the same day. An audio replay will be offered after the session. Alcoa is a leader in bauxite, alumina, and aluminum products, with a legacy of innovation and operational excellence.