Alcoa Corporation: Mixed — EPS $1.82, Revenue $3.7B
Mixed ResultQ3 2026 · After-market
@trystockwhiz
Did Alcoa Corporation (AA) beat earnings today?
It was a mixed report for Q3 2026 — Alcoa Corporation (AA) beat on EPS but missed on revenue.
Earnings Per Share+20.53% surprise
$1.82Actual
Expected: $1.51
vs. year ago +9200.0%
Total Revenue-1.49% surprise
$3.7BActual
Expected: $3.76B
vs. year ago +23.7%
Released Oct 15 · 4:12 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $3.70B | $3.00B | +23.7% |
| Revenue detail — reported lines | |||
| └─Third-party bauxite sales | $85.00M | $113.00M | -24.8% |
| └─Third-party alumina sales | $595.00M | $841.00M | -29.3% |
| └─Third-party sales | $3.02B | $2.04B | +48.1% |
| Net Income | $483.00M | $232.00M | +108.2% |
| GAAP Basic EPS | $1.83 | $0.88 | +107.9% |
| GAAP Diluted EPS | $1.81 | $0.88 | +105.7% |
| Adjusted Diluted EPS | $1.82 | $(0.02) | - |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | 2026 Outlook |
|---|---|---|
| Alumina production | — | 9.5 to 9.6 million metric tons |
| Alumina shipments | — | 11.5 to 11.6 million metric tons |
| Aluminum production | — | 2.4 to 2.6 million metric tons |
| Aluminum shipments | — | 2.6 to 2.8 million metric tons |
| Aluminum Segment Adjusted EBITDA | ~$30M unfavorable sequentially | — |
| Alumina costs | ~$30M unfavorable sequentially | — |
| Other income | ~$20M increase | — |
| Interest expense | — | ~$185M |
Business Highlights
- ➤Completed the Alumar, Brazil smelter restart.
- ➤Increased aluminum production for the sixth consecutive quarter.
- ➤Set year-to-date production records at five smelters and one refinery.
- ➤Advanced AliGroup acquisition regulatory, transition and integration planning.
- ➤South32 shareholders approved the AliGroup acquisition on October 15, 2026.
- ➤AliGroup transaction remains on track to close in the first half of 2027.
- ➤Completed senior-note offerings and terminated remaining bridge-financing commitments.
- ➤Entered definitive agreements to sell portions of the Massena East site.
- ➤Massena East closing remains subject to permitting, regulatory approvals and construction conditions.
Management Commentary
William F. Oplinger, President and CEO
“During the third quarter, we advanced the AliGroup acquisition, delivered improved refinery performance, and increased production across our smelting portfolio. As we look ahead, we remain focused on strengthening safety performance, sustaining operational stability, and building on this momentum as we work toward closing the AliGroup acquisition in the first half of 2027.”