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Reported Q: Q3 2024 Rev YoY: +11.6% EPS YoY: +141.5% Move: -1.21%

Alcoa Corporation

$59.65 -1.21%

Exchange NYSE Sector Basic Materials Industry Aluminum

Q3 2024

Published: Oct 31, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AA

Reported

Report Date

Oct 31, 2024

Quarter Q3 2024

Revenue

2.90B

YoY: +11.6%

EPS

0.38

YoY: +141.5%

Market Move

-1.21%

Previous quarter: N/A

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Earnings Highlights

Revenue of $2.90B up 11.6% year-over-year
EPS of $0.38 increased by 141.5% from previous year
Gross margin of 17.6%
Net income of 90.00M
""We've maintained a fast pace of execution on our strategic priorities, while progressing operational excellence with safety, stability, and continuous improvement." - William Oplinger, CEO" - William Oplinger

Alcoa Corporation

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Mar 7, 2026

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Executive Summary

Alcoa Corporation reported strong performance in Q3 2024, delivering revenue of $2.9 billion, a slight stabilization from the previous quarter. The company achieved a net income of $90 million, significantly up from $20 million in Q2 2024, reflecting an overall robust recovery following strategic actions and operational improvements. Adjusted EBITDA rose to $455 million, driven by increased prices for alumina amidst a favorable market environment. Management emphasized a strong focus on operational excellence, strategic acquisitions, and safety protocols, which are expected to support continued growth amid industry challenges.

Key Performance Indicators

Revenue

Increasing

2.90B

QoQ: -0.07% | YoY: 11.61%

Gross Profit

Increasing

511.00M

17.60% margin

QoQ: 37.00% | YoY: 284.21%

Operating Income

Increasing

184.00M

QoQ: 100.00% | YoY: 180.70%

Net Income

Increasing

90.00M

QoQ: 350.00% | YoY: 153.57%

EPS

Increasing

0.39

QoQ: 254.55% | YoY: 141.49%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: $2.9 billion (flat QoQ), Net Income: $90 million (up 350% QoQ), EPS: $0.38 (up 254.55% QoQ). Gross Profit Margin: 17.6% (improved from 12.8% in Q2), indicating enhanced cost management. Return on Equity: 0.6%, turning positive for year-to-date operations. Free Cash Flow: Neutral for the quarter with a steady cash balance of $1.3 billion. Management projected increased alumina shipments of 12.9 to 13.1 million tons for the year, reflecting positive market dynamics despite the high cost environment.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	2.90B	11.61%	-0.07%
Gross Profit	511.00M	284.21%	37.00%
Operating Income	184.00M	180.70%	100.00%
Net Income	90.00M	153.57%	350.00%
EPS	0.39	141.49%	254.55%

Key Financial Ratios

Gross Profit Margin

Weak

17.60%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Fair

6.34%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Fair

3.10%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.62%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.71%

Return on equity suggests inefficient capital allocation

Current Ratio

Adequate

1.41

Current ratio meets minimum requirements but limited cushion

Debt to Equity

Moderate

0.56

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Growth

25.38x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

Fair Value

1.74x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q3 2025	2,995.00	0.88	+3.1%	View
Q2 2025	3,018.00	0.62	+3.9%	View
Q1 2025	3,369.00	2.07	+29.6%	View
Q4 2024	3,486.00	0.76	+34.3%	View
Q3 2024	2,904.00	0.38	+11.6%	View

Alcoa Corporation (AA) Q3 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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