Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses. The company offers primary aluminum in the form of alloy ingot or value-add ingot to customers that produce products for the transportation, building and construction, packaging, wire, and other industrial markets; and flat-rolled aluminum in the form of sheet, which is sold primarily to customers that produce beverage and food cans. In addition, it owns hydro power plants that generates and sells electricity in the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. The company was founded in 1886 and is headquartered in Pittsburgh, Pennsylvania.

Alcoa’s picture looks better in terms of profitability than in terms of valuation quality and operating margin. The company trades at a meaningful discount to the industry on P/E, P/S, and P/B, which usually supports upside, but this advantage is partly offset by a very high P/FCF, indicating weak conversion of earnings into free cash flow. Returns on capital are strong: ROE, ROA, and ROI are above industry benchmarks, and EPS as well as forecast EPS also look materially better than the median, confirming the business’s ability to generate earnings in the current cycle. At the same time, the operating margin remains a weak point: it is significantly below the industry and has declined noticeably from stronger periods, while gross margin is also below comparable levels. The balance sheet looks moderately resilient overall: debt/equity is low, debt does not appear excessive, and equity is growing, which reduces financial risk. Liquidity, however, is not ideal: the current ratio and quick ratio are below industry levels, so the margin of safety in working capital is limited. Revenue, earnings, and EBITDA have generally been growing over time, which supports the valuation, but the path does not look linear or risk-free. The cash position remains comfortable, although cash on hand has declined slightly from earlier levels. Dividend yield is low and is not a strong re-rating driver, so investors here are more likely paying for cyclical earnings improvement than for income. Overall, the fundamentals justify a cautiously positive view, but weak operating margin and expensive P/FCF limit the scope for an upward revision. For an investor, this is a story with solid profitability and an acceptable balance sheet, but without sufficient cash flow quality to aggressively raise the target valuation.

ETHAA-12.26

Alcoa Corporation

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, значительно вырос. Рынок на стороне быков.

Weak index, significantly up. The market is on the bulls' side.

Слабый индекс, незначительно вырос. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly up. The inflow of funds into longs remains at a low level.

Alcoa appears undervalued based on P/E, P/S, and P/B, but its weak operating margin and high P/FCF limit its revaluation potential.

Key Points
Alcoa doubled its profit in Q3 and grew sales 24%.
Management is holding firm on shipments estimates for the rest of this year, but warned of higher costs.
Traditionally one of the first big companies to report results in any earnings season, Alcoa (NYSE:AA) stock started off the Q3 rush with some great news last night: Alcoa beat earnings.
Heading into the report, analysts had Alcoa pegged for a $1.54 per share profit, but the aluminum giant actually earned $1.82 per share (adjusted for one-time items). Granted, sales fell a bit short -- $3.7 billion versus analysts' hoped-for $3.8 billion.
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But at least the earnings were good.
Image source: Getty Images.
Alcoa Q3 earnings
Really good. Alcoa grew its sales 23.7%, which is an impressive number even if it did "miss estimates." But Alcoa's earnings were even better. Profits flipped from negative to positive on an adjusted basis, and earnings calculated under generally accepted accounting principles (GAAP) more than doubled to $1.81 per share (just a penny less than the "adjusted" number).
Furthermore, Alcoa generated a respectable $472 million in free cash flow for the quarter, backing up 97.7% of reported net income with real cash profit.
Profit margins increased nicely, growing from 7.7% to 13%, and CEO William F. Oplinger says that, thanks to improved refinery performance plus contributions from acquisitions, Alcoa increased its production of aluminum in the quarter as well.
What's next for Alcoa
So, more aluminum produced and sold at higher margins? Sounds pretty good to me. And Alcoa is doing its best to keep the good times rolling.
Turning to guidance, management reaffirmed its target of shipping 2.6 to 2.8 million metric tons of aluminum and 11.5 to 11.6 million metric tons of alumina (aluminum oxide) this year. Input costs may be a bit higher, weighing on profitability.
Most analysts still agree Alcoa should end 2026 with $6.81 per share in profit, however, valuing the stock at a cheap 6.3x current-year earnings.
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Why Alcoa Stock Popped on Friday

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Alcoa (AA) Q3 2026 Earnings Call Transcript

The following companies are expected to report earnings after hours on 10/15/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
Interactive Brokers Group, Inc. (IBKR)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.67. This value represents a 17.54% increase compared to the same quarter last year. IBKR missed the consensus earnings per share in the 1st calendar quarter of 2026 by -3.23%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for IBKR is 31.28 vs. an industry ratio of 15.50, implying that they will have a higher earnings growth than their competitors in the same industry.
J.B. Hunt Transport Services, Inc. (JBHT)is reporting for the quarter ending September 30, 2026. The truck company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.81. This value represents a 2.84% increase compared to the same quarter last year. In the past year JBHT has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 11.7%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for JBHT is 31.63 vs. an industry ratio of 30.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Alcoa Corporation (AA)is reporting for the quarter ending September 30, 2026. The metal production company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.65. This value represents a 8350.00% increase compared to the same quarter last year. The last two quarters AA had negative earnings surprises; the latest report they missed by -9.01%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for AA is 5.99 vs. an industry ratio of 3.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Independent Bank Corp. (INDB)is reporting for the quarter ending September 30, 2026. The bank (northeast) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $1.84. This value represents a 18.71% increase compared to the same quarter last year. The last two quarters INDB had negative earnings surprises; the latest report they missed by -3.95%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for INDB is 10.61 vs. an industry ratio of 10.80.
Cohen & Steers Inc (CNS)is reporting for the quarter ending September 30, 2026. The finance/investment management company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.87. This value represents a 7.41% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for CNS is 19.08 vs. an industry ratio of 12.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Simmons First National Corporation (SFNC)is reporting for the quarter ending September 30, 2026. The banks (southeast) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.53. This value represents a 15.22% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for SFNC is 10.70 vs. an industry ratio of 12.10.
Loop Industries, Inc. (LOOP)is reporting for the quarter ending August 31, 2026. The chemical company's consensus earnings per share forecast from the 1 analyst that follows the stock is $-0.05. This value represents a 28.57% increase compared to the same quarter last year. LOOP missed the consensus earnings per share in the 2nd calendar quarter of 2026 by -40%. Zacks Investment Research reports that the 2027 Price to Earnings ratio for LOOP is -1.55 vs. an industry ratio of 20.80.

After-Hours Earnings Report for October 15, 2026 : IBKR, JBHT, AA, INDB, CNS, SFNC, LOOP

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Penguin Solutions Inc. (Symbol: PENG), where a total volume of 12,909 contracts has been traded thus far today, a contract volume which is representative of approximately 1.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 87.2% of PENG's average daily trading volume over the past month, of 1.5 million shares. Particularly high volume was seen for the $70 strike call option expiring October 16, 2026, with 1,717 contracts trading so far today, representing approximately 171,700 underlying shares of PENG. Below is a chart showing PENG's trailing twelve month trading history, with the $70 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) saw options trading volume of 33,600 contracts, representing approximately 3.4 million underlying shares or approximately 86.9% of AA's average daily trading volume over the past month, of 3.9 million shares. Particularly high volume was seen for the $45 strike call option expiring November 20, 2026, with 9,039 contracts trading so far today, representing approximately 903,900 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $45 strike highlighted in orange:
And Addus HomeCare Corp (Symbol: ADUS) saw options trading volume of 1,727 contracts, representing approximately 172,700 underlying shares or approximately 80.4% of ADUS's average daily trading volume over the past month, of 214,845 shares. Especially high volume was seen for the $120 strike call option expiring October 16, 2026, with 1,725 contracts trading so far today, representing approximately 172,500 underlying shares of ADUS. Below is a chart showing ADUS's trailing twelve month trading history, with the $120 strike highlighted in orange:
For the various different available expirations for PENG options, AA options, or ADUS options, visit StockOptionsChannel.com.
Further PENG Research:

Notable Monday Option Activity: PENG, AA, ADUS

Apple's board of directors has declared a cash dividend of $0.27 per share of the Company's common stock. The dividend is payable on August 13, 2026, to shareholders of record as of the close of business on August 10, 2026.
Amgen today announced that its Board of Directors declared a $2.52 per share dividend for the third quarter of 2026. The dividend will be paid on September 11, 2026, to all stockholders of record as of the close of business on August 21, 2026.
Huntsman announced today that its Board of Directors has declared a $0.0875 per share cash dividend on its common stock. The dividend is payable on September 30, 2026, to stockholders of record as of September 15, 2026.
Boise Cascade's Board of Directors declared a quarterly dividend of $0.23 per share, an increase of $0.01 per share or 5%, to holders of its common stock. The dividend will be paid on September 16, 2026 to stockholders of record on September 1, 2026.
Alcoa announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company's common stock, to be paid on August 27, 2026 to stockholders of record as of the close of business on August 11, 2026.
On July 30, 2026, the Board of Directors of BorgWarner declared a quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on September 15, 2026, to stockholders of record on September 1, 2026.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: AAPL,AMGN,HUN,BCC,AA,BWA

Shares of Vista Energy VIST rose 2.6% after reporting second-quarter 2026 revenues of $1.23 billion, beating the Zacks Consensus Estimate of $1.08 billion.
Shares of The Travelers Companies, Inc. TRV jumped 9.2% after reporting second-quarter 2026 adjusted earnings of $10.04 per share, beating the Zacks Consensus Estimate of $5.31.
Chevron Corporation’s CVX shares rose 1.9% on energy emerging as the biggest gaining sector of the day.
Shares of Alcoa Corporation AA Inc. slid 6.1% after reporting second-quarter 2026 adjusted earnings of $2.12 per share, missing the Zacks Consensus Estimate of $2.33.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Company News for July 20, 2026

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Block Inc (Symbol: XYZ), where a total of 37,148 contracts have traded so far, representing approximately 3.7 million underlying shares. That amounts to about 63.3% of XYZ's average daily trading volume over the past month of 5.9 million shares. Particularly high volume was seen for the $82 strike call option expiring July 17, 2026, with 4,067 contracts trading so far today, representing approximately 406,700 underlying shares of XYZ. Below is a chart showing XYZ's trailing twelve month trading history, with the $82 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) options are showing a volume of 42,156 contracts thus far today. That number of contracts represents approximately 4.2 million underlying shares, working out to a sizeable 63.3% of AA's average daily trading volume over the past month, of 6.7 million shares. Especially high volume was seen for the $50 strike call option expiring August 21, 2026, with 12,434 contracts trading so far today, representing approximately 1.2 million underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $50 strike highlighted in orange:
And Howard Hughes Holdings Inc (Symbol: HHH) options are showing a volume of 2,467 contracts thus far today. That number of contracts represents approximately 246,700 underlying shares, working out to a sizeable 61% of HHH's average daily trading volume over the past month, of 404,380 shares. Particularly high volume was seen for the $70 strike call option expiring July 17, 2026, with 610 contracts trading so far today, representing approximately 61,000 underlying shares of HHH. Below is a chart showing HHH's trailing twelve month trading history, with the $70 strike highlighted in orange:
For the various different available expirations for XYZ options, AA options, or HHH options, visit StockOptionsChannel.com.
Further XYZ Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: XYZ, AA, HHH

For the quarter ended June 2024, Alcoa (AA) reported revenue of $2.91 billion, up 8.3% over the same period last year. EPS came in at $0.16, compared to -$0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.96 billion, representing a surprise of -1.92%. The company delivered an EPS surprise of +45.45%, with the consensus EPS estimate being $0.11.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average realized third-party price per metric ton of alumina: $399 versus the two-analyst average estimate of $383.76.
Average realized third-party price per metric ton of aluminum: $2,858 versus the two-analyst average estimate of $2,999.99.
Third-party alumina shipments in Tons: 2,267 Kmt versus 2,245.65 Kmt estimated by two analysts on average.
Third-party aluminum shipments in Tons: 677 Kmt versus 653.99 Kmt estimated by two analysts on average.
Total sales- Alumina: $1.47 billion versus $1.39 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.
Total sales- Aluminum: $1.90 billion versus $1.98 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.9% change.
Third-party sales- Bauxite: $96 million versus the two-analyst average estimate of $110.07 million. The reported number represents a year-over-year change of -15%.
Third-party sales- Alumina: $914 million versus $875.72 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.2% change.
Intersegment sales- Aluminum: $3 million versus the two-analyst average estimate of $4.50 million. The reported number represents a year-over-year change of -25%.
Total Third-party sales: $2.91 billion versus the two-analyst average estimate of $2.96 billion. The reported number represents a year-over-year change of +8.3%.
Intersegment sales- Alumina: $457 million versus $400.09 million estimated by two analysts on average.
Third-party sales- Aluminum: $1.90 billion versus the two-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +6%.
View all Key Company Metrics for Alcoa here>>>
Shares of Alcoa have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Alcoa (AA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

(RTTNews) - Alcoa Corp. (AA) released earnings for its second quarter that Increases, from last year
The company's earnings came in at $407 million, or $1.53 per share. This compares with $164 million, or $0.62 per share, last year.
Excluding items, Alcoa Corp. reported adjusted earnings of $562 million or $2.12 per share for the period.
The company's revenue for the period rose 31.4% to $3.966 billion from $3.018 billion last year.
Alcoa Corp. earnings at a glance (GAAP) :
-Earnings: $407 Mln. vs. $164 Mln. last year. -EPS: $1.53 vs. $0.62 last year. -Revenue: $3.966 Bln vs. $3.018 Bln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Alcoa Corp. Q2 Profit Rises

(RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on July 16, 2026, to discuss Q2 26 earnings results.
To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx
To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID:8590507.
For a replay call, dial +1 (855) 669-9658 (US) or +1 (412) 317-0088 (International), Replay Access Code: 9420957.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Alcoa Corporation

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