Alcoa Corporation reported a significant increase in Q3 2024 profits, with net income rising to $90 million from $20 million in Q2. Adjusted EBITDA excluding special items jumped to $455 million from $325 million, driven by higher alumina prices and lower raw material costs.The company completed its acquisition of Alumina Limited on August 1, 2024, strengthening its position as a pure-play upstream aluminum company. Alcoa also announced an agreement to sell its 25.1% stake in the Ma'aden joint ventures for approximately $1.1 billion, expected to close in H1 2025.Alcoa maintained its 2024 Alumina segment production outlook at 9.8-10.0 million metric tons but increased shipment projections to 12.9-13.1 million metric tons. The company expects Q4 Alumina Segment Adjusted EBITDA to benefit from higher shipments and lower production costs, while Aluminum Segment performance is anticipated to remain flat.

Alcoa Corporation reported a significant increase in Q3 2024 profits, with net income rising to $90 million from $20 million in Q2. Adjusted EBITDA excluding special items jumped to $455 million from $325 million, driven by higher alumina prices and lower raw material costs.The company completed its acquisition of Alumina Limited on August 1, 2024, strengthening its position as a pure-play upstream aluminum company. Alcoa also announced an agreement to sell its 25.1% stake in the Ma'aden joint ventures for approximately $1.1 billion, expected to close in H1 2025.Alcoa maintained its 2024 Alumina segment production outlook at 9.8-10.0 million metric tons but increased shipment projections to 12.9-13.1 million metric tons. The company expects Q4 Alumina Segment Adjusted EBITDA to benefit from higher shipments and lower production costs, while Aluminum Segment performance is anticipated to remain flat.