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 (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.
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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.