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.
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.
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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.
Alcoa Corporation (NYSE: AA) reported its third quarter 2020 results, highlighting improved alumina and aluminum pricing, generating $158 million in cash from operations and $84 million in free cash flow. The cash balance grew to $1.74 billion aided by a $750 million debt issuance. Although the company showed a net loss of $49 million, it marked an improvement from $197 million in Q2 2020. The company expects a total of $900 million in cash savings in 2020, while also planning for curtailments and production adjustments due to operational changes and market conditions.
Alcoa (NYSE:AA) is set to curtail operations at its San Ciprián aluminum smelter in Spain, impacting around 530 employees. This decision follows extensive consultations and reflects the smelter's uncompetitive position due to factors like high energy costs and global aluminum overcapacity. The curtailment will be completed by Q1 2021, with ongoing operations for about 100 employees in the casthouse. Alcoa anticipates restructuring charges of $35 million to $40 million in Q4 2020. Year-to-date losses at the plant total approximately $45 million, contributing to a cumulative loss of $126 million in 2018 and 2019.
Alcoa's consultation process regarding the San Ciprián aluminum plant in Spain concluded on September 28, 2020, without an agreement with workers. The company has 15 days to decide on the plant's future, which has a capacity of 228,000 metric tons annually. Alcoa had previously explored a potential sale to GFG Alliance but negotiations failed. Due to ongoing financial losses at the aluminum plant, a reorganization plan was initiated in June 2020, recommending curtailment while maintaining part of the facility's operations.