Alcoa Corp (AA) Form 8-K — Oct 15, 2026
Alcoa reported Q3 2026 revenue of $3.7 billion, with net income of $483 million or $1.81 per share, more than doubling the year-ago EPS of $0.88. Adjusted EBITDA excluding special items was $789 million and free cash flow reached $472 million. Alcoa ended the quarter with $4.4 billion in cash, including $2.6 billion of financing obtained for the AliGroup acquisition after issuing $1.5 billion of 6.625% notes due 2034 and $1.1 billion of 6.875% notes due 2036. South32 shareholders approved the acquisition on October 15, 2026, with closing targeted for the first half of 2027.
Key figures
- Eps
- 1.81
- Revenue
- 3704
- Guidance
- Reaffirms 2026 Alumina production 9.5-9.6 Mmt and shipments 11.5-11.6 Mmt; Aluminum production 2.4-2.6 Mmt and shipments 2.6-2.8 Mmt. Q4 2026: ~$30M unfavorable Aluminum segment impacts from raw material costs and maintenance, ~$20M higher other income from interest on AliGroup cash, ~$185M full-year interest expense, Q4 operational tax expense $65-75M.
- Net Income
- 483
- Total Debt
- 4822
- Revenue Yoy
- 24%
- Total Assets
- 20362
- Cash Position
- 4408
- Net Debt
- 414
- Adjusted EPS
- 1.82
- Notes Issued
- $1.5B 6.625% senior notes due 2034 and $1.1B 6.875% senior notes due 2036
- Free Cash Flow
- 472
- Adjusted Net Debt
- 969
- Adjusted Net Income
- 485
- Cash From Operations
- 643
- Days Working Capital
- 50
- Ali Group Cash Consideration
- approximately $3.1 billion
- Adjusted Ebitda Ex Special Items
- 789
- Massena East Potential Proceeds
- up to $315 million ($50-65M at closing plus $60-250M contingent)
AI analysis
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