Alcoa Corporation released preliminary Q2 2024 results showing sequential improvements across key metrics. Revenue is expected to reach $2.85-2.93B, with net income of $5-25M and Adjusted EBITDA of $310-330M, driven by higher alumina and aluminum prices. The company maintained a strong cash position of approximately $1.4B.The Alumina segment's EBITDA is projected at $180-190M despite the Kwinana refinery curtailment completed in June 2024. The Aluminum segment expects EBITDA of $230-240M due to higher prices and lower production costs. Production remained stable for aluminum while alumina output decreased 5% following Kwinana's closure.Alcoa continues progressing on strategic initiatives, including the Alumina Limited acquisition expected to close around August 1, 2024, following regulatory approvals. The company is also advancing the ELYSIS technology implementation and exploring solutions for the San Ciprián complex, though current funding is anticipated to be exhausted by end-2024 based on economic conditions.

Alcoa Corporation released preliminary Q2 2024 results showing sequential improvements across key metrics. Revenue is expected to reach $2.85-2.93B, with net income of $5-25M and Adjusted EBITDA of $310-330M, driven by higher alumina and aluminum prices. The company maintained a strong cash position of approximately $1.4B.The Alumina segment's EBITDA is projected at $180-190M despite the Kwinana refinery curtailment completed in June 2024. The Aluminum segment expects EBITDA of $230-240M due to higher prices and lower production costs. Production remained stable for aluminum while alumina output decreased 5% following Kwinana's closure.Alcoa continues progressing on strategic initiatives, including the Alumina Limited acquisition expected to close around August 1, 2024, following regulatory approvals. The company is also advancing the ELYSIS technology implementation and exploring solutions for the San Ciprián complex, though current funding is anticipated to be exhausted by end-2024 based on economic conditions.