Alcoa Q3 net income $90M ($0.38/sh); adj. net income $135M; Alumina Ltd acquisition closed

Alcoa Corp

2024-Q3 EPS reported -$0.72 revenue$8,409,000,000

Revenue flat sequentially at $2.9B; Adjusted EBITDA ex-special items rose to $455M from $325M in Q2.
Completed Alumina Limited acquisition on Aug 1, 2024; announced sale of 25.1% Ma'aden interest for ~$1.1B.
Profitability improvement program 80% of $645M target achieved; on track for full target by year-end 2025.
Paid $0.10/share quarterly dividend; cash balance $1.3B; secured new 9-year power agreement with AGL for Portland smelter.
Alumina production down 4% sequentially; aluminum production up 3%; long-term alumina supply deal with Alba (16.5M tonnes).

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