secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0001157523-23-001501
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alcoa Q3 net loss $168M; adjusted EBITDA $70M amid lower alumina and aluminum prices
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- Net loss $168M ($0.94/share) vs $102M loss in Q2; adjusted loss $1.14/share.
- Revenue $2.6B down 3% sequentially; lower alumina and aluminum prices partially offset by higher shipments.
- Adjusted EBITDA $70M down from $137M Q2; cash from operations $69M, free cash flow negative $76M.
- Kwinana refinery restructuring initiated; $6M charge in Q3, ~$10M annual savings anticipated.
- New 9-year power agreement with AGL for Portland smelter (300 MW) effective July 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000115752323001501/0001157523-23-001501-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000115752323001501/a53594023.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001501

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