Alcoa Corporation
AA
$34.50 -0.95%
Exchange: NYSE | Sector: Basic Materials | Industry: Aluminum
Q3 2024
Published: Oct 31, 2024

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 (AA) Q3 2024 Financial Results Report: Strategic Acquisitions and Market Stability Drive Growth

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

2.90B
QoQ: -0.07% | YoY:11.61%

Gross Profit

511.00M
17.60% margin
QoQ: 37.00% | YoY:284.21%

Operating Income

184.00M
QoQ: 100.00% | YoY:180.70%

Net Income

90.00M
QoQ: 350.00% | YoY:153.57%

EPS

0.39
QoQ: 254.55% | YoY:141.49%

Revenue Trend

Margin Analysis

Key Insights

**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...

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
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
Q2 2024 2,906.00 0.11 +8.3% View