secwatch.observer — SEC 8-K summary
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Issuer:     Novelis Inc. (—)
CIK:        0001304280
Form:       8-K
Filed at:   2026-05-19T10:04:45+00:00
Accession:  0001304280-26-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novelis Q4 net loss $84M; Oswego fires hit shipments by 73kt; restart ahead of schedule
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- Q4 net loss $84M vs net income $294M prior year; net income excl. special items $227M, down 13% YoY.
- Adjusted EBITDA $459M (-3% YoY); rolled product shipments 844kt (-12% YoY); Adjusted EBITDA/tonne $544 (+10% YoY).
- Full FY2026 net income $15M (-98% YoY); Adjusted EBITDA $1.6B (-9% YoY); estimated $104M negative impact from Oswego fires.
- Oswego hot mill restart expected in coming weeks, ahead of prior end-June estimate; cold mill commissioning began at Bay Minette.
- Net leverage ratio 4.1x; liquidity $2.8B ($1.3B cash + $1.5B credit facilities); CFO sees path to positive free cash flow by end FY2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1304280/000130428026000016/0001304280-26-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1304280/000130428026000016/nvl-20260519.htm
  HTML page:      https://secwatch.observer/filing/0001304280-26-000016

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