Alcoa Corp Q4 2025 Earnings Call: Strong Revenue Growth and Strategic Challenges

Alcoa Corp reported Q4 2025 revenue of $3.4 billion, a 15% sequential increase, driven by higher aluminum shipments and prices. Net income was $226 million, with adjusted EBITDA at $546 million. The company ended the year with a strong cash balance of $1.6 billion and achieved annual production records at five smelters and one refinery. However, it recorded a noncash charge of $144 million to impair goodwill in the Alumina segment and anticipates challenges in achieving cash neutrality at the San Ciprian complex until H2 2027.