Alcoa has reported a strong finish to 2025, driven by higher aluminium prices, improved operational performance, and a stronger balance sheet. The company also indicated it expects increased production across both its alumina and aluminium segments in 2026. Alcoa is a global industry leader in bauxite, alumina, and aluminium products. It aims to deliver sustainable value through operational excellence, strong financial performance, and innovative solutions.
The producer reported fourth-quarter revenue of $US3.4 billion ($5 billion), a 15 per cent increase from the previous quarter. Net income for the quarter was $US226 million, with adjusted EBITDA rising to $US546 million. For the full year, net income surged to $US1.17 billion, a significant increase from $US60 million in 2024, while adjusted EBITDA rose 25 per cent to $US2 billion.
Alcoa chief executive William Oplinger said the company maintained its pace of delivering on key operational, strategic, and capital allocation objectives, while also setting numerous production records. Production records were achieved at five aluminium smelters and one alumina refinery during the year. Several strategic actions were completed, including the permanent closure of the Kwinana refinery in Western Australia and the resolution of a long-running Australian tax dispute.
Looking ahead to 2026, Alcoa anticipates alumina production to be between 9.7 and 9.9 million tonnes, an increase from 2025 driven by productivity improvements. Aluminium production is forecast to rise to between 2.4 and 2.6 million tonnes as smelter restarts progress. The company noted near-term cost pressures in the March quarter due to maintenance cycles and higher restart costs, but said underlying market conditions for alumina and aluminium remain supportive.
