Alcoa reported second-quarter sales of $3.966 billion, beating the analyst consensus estimate of $3.939 billion by 0.67 percent. This represents a 31.41 percent increase over sales of $3.018 billion reported in the same period last year. Despite the revenue growth, the company's adjusted earnings per share of $2.12 missed the analyst consensus estimate of $2.25 by 5.78 percent. The reported EPS is a significant 443.59 percent increase over earnings of $0.39 per share from the prior-year quarter. Following the announcement, Alcoa stock was down 2.88% to $45.45 in extended trading.

Alcoa Financial Overview

Operational Highlights

Alcoa reported mixed production metrics for the quarter. Alumina production decreased 6% sequentially to 2.2 million metric tons, while third-party shipments remained flat at 1.6 million metric tons. In the Aluminum segment, production increased 5% sequentially to 636,000 metric tons, and total shipments rose 18% sequentially. The company’s total third-party revenue of $4 billion increased 24% sequentially, driven by a 31% increase in the Aluminum segment, partially offset by a 3% decrease in the Alumina segment.

“During the second quarter, in addition to delivering strong financial results that captured favorable aluminum prices, our team executed on strategic initiatives, most notably the announced agreement with South32,” said Alcoa CEO William F. Oplinger.

Alcoa Corporation and the governments of Australia, Japan, and the United States have reached a final investment decision for a gallium production plant to be co-located at Alcoa’s Wagerup alumina refinery in Western Australia. The facility will create a new, reliable source of gallium to support partner governments’ efforts to strengthen critical mineral supply chains. Alcoa will construct and operate the plant, leveraging its experience in alumina refining and advanced mineral processing.

The project underscores the strategic importance of Western Australia and the role Alcoa’s operations play in delivering critical materials essential to the global economy, said William F. Oplinger, President and Chief Executive Officer of Alcoa. He noted that the decision reflects a shared commitment by governments and industry to strengthen critical mineral supply chains among the partners.

Gallium is a critical mineral used in advanced technologies, including semiconductors and defense applications. Global supply is currently highly concentrated, and this collaborative effort aims to diversify supply and enhance resilience across key industries.

Construction activities are expected to commence following final site preparations. Alcoa’s participation in the joint venture, including its role as construction and operating manager, is not expected to have a material impact on the company’s financial position or results of operations.

Project Details