Alcoa reports Q2 net income of $20M; revenue up 12% sequentially; Alumina acquisition to close Aug 1

Alcoa Corp

2024-Q2 EPS reported -$1.29 revenue$5,505,000,000

Revenue $2,906M, up 12% sequentially; net income $20M ($0.11 EPS) vs. Q1 loss of $252M.
Adjusted net income $30M ($0.16 EPS); Adjusted EBITDA excluding special items $325M vs. $132M in Q1.
Alumina production down 5% to 2.53M tonnes due to Kwinana full curtailment; aluminium output up for 7th straight quarter.
Alumina Limited acquisition expected to close on/about August 1, 2024; all regulatory approvals received.
Quarterly cash dividend maintained at $0.10/share; cash balance $1.4B; free cash flow $123M.

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