secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000950170-24-045115
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alcoa Q1 revenue $2.6B, net loss $252M; Alumina Ltd acquisition; $100M cost savings target
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- Revenue $2,599M flat QoQ; net loss $(252)M ($1.41/sh); adjusted net loss $(145)M ($0.81/sh).
- Entered binding all-stock agreement to acquire Alumina Limited; expects to close subject to approvals.
- Initiated process for potential sale of San Ciprián complex; bid process by June 2024.
- Launched productivity program targeting ~$100M operating cost run-rate savings by Q1 2025.
- Issued $750M green bonds at 7.125% due 2031; cash balance $1.4B includes net proceeds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000095017024045115/0000950170-24-045115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000095017024045115/aa-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-045115

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