secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0000950170-24-115018
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000095017024115018/0000950170-24-115018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000095017024115018/aa-20241016.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-115018

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