Alcoa Half-Year Report 2024
Alcoa Corporation reported results for the second quarter 2024 consistent with the Company’s previously announced preliminary results that reflect sequential increases in revenue, net income, adjusted net income and Adjusted EBITDA excluding special items on higher alumina and aluminum prices, along with continued progress on profitability improvement programs.
Highlights
- Revenue increased 12 percent sequentially to $2.9 billion, on higher alumina and aluminum prices
- Net income increased sequentially to $20 million, or $0.11 per share
- Adjusted net income increased to $30 million, or $0.16 per share
- Adjusted EBITDA excluding special items increased sequentially to $325 million
- Alumina Limited acquisition expected to close on or about August 1, 2024
- Completed the full curtailment of Kwinana refinery in Australia
- Paid quarterly cash dividend of $0.10 per share of common stock, totaling $18 million
- Finished the second quarter 2024 with cash balance of $1.4 billion