Alcoa Q2 Earnings: Revenue Beats Expectations, EPS in Line, 2025 Alumina Production Remains Unchanged

Alcoa reported Q2 Non-GAAP EPS of $0.39, in line with expectations. Revenue of $3.01B (+3.4% Y/Y) beat estimates by $60M. The company maintained its 2025 total Alumina segment production and shipments outlook, ranging between 9.5 to 9.7 million.

Alcoa Corporation (NYSE: AA) reported its second-quarter 2025 earnings, with Non-GAAP EPS of $0.39, in line with analyst expectations. Revenue of $3.01 billion, up 3.4% year-over-year, beat estimates by $60 million. The company maintained its 2025 total Alumina segment production and shipments outlook, ranging between 9.5 to 9.7 million metric tons.

Key highlights include:
- Revenue: Alcoa's total third-party revenue of $3.0 billion decreased 10% sequentially, but beat estimates by $60 million.
- EPS: Non-GAAP EPS of $0.39 matched expectations, while GAAP EPS was $0.62 per share.
- Production: Alumina production remained flat sequentially at 2.4 million metric tons, while aluminum production increased 1% to 572,000 metric tons.
- Tariff Costs: Alcoa incurred approximately $115 million for tariff costs on imports of aluminum to the U.S. from Canada.

Despite lower alumina and aluminum prices and increased tariff costs, Alcoa's operational performance remained strong. The company ended the quarter with a cash balance of $1.5 billion, up $413 million sequentially.

Alcoa's stock was down 25% year-to-date as of the earnings report, but the company's earnings beat expectations, which may lead to a rebound in the stock price after-hours.

References:
[1] https://247wallst.com/investing/2025/07/16/live-updates-will-alcoa-nyse-aa-beat-earnings-after-the-bell/
[2] https://www.stocktitan.net/news/AA/alcoa-corporation-reports-second-quarter-2025-tmmyd93n23fk.html