Alcoa — Jan 22, 2025 release

  Financial Results and Highlights   M, except per share amounts 4Q24   3Q24   FY24   FY23   Revenue $ 3,486   $ 2,904   $ 11,895   $ 10,551   Net income (loss) attributable to Alcoa Corporation $ 202   $ 90   $ 60   $ (651 ) Income (loss) per share attributable to Alcoa Corporation common shareholders $ 0.76   $ 0.38   $ 0.26   $ (3.65 ) Adjusted net income (loss) $ 276   $ 135   $ 296   $ (405 ) Adjusted income (loss) per common share $ 1.04   $ 0.57   $ 1.35   $ (2.27 ) Adjusted EBITDA excluding special items $ 677   $ 455   $ 1,589   $ 536     Fourth Quarter 2024 • Revenue increased to $3.5 billion, a 20 percent increase sequentially • Net income increased 124 percent sequentially to $202 million, or $0.76 per common share • Adjusted net income increased 104 percent sequentially to $276 million, or $1.04 per common share • Adjusted EBITDA excluding special items increased 49 percent sequentially to $677 million • Progressed cooperation with stakeholders for the San Ciprián complex • Paid quarterly cash dividend of $0.10 per share of stock, totaling $27 million   Full Year 2024 • Revenue increased to $11.9 billion, a 13 percent increase • Net income increased to $60 million, or $0.26 per common share • Adjusted net income increased to $296 million, or $1.35 per common share • Adjusted EBITDA excluding special items increased to $1.6 billion • Set annual production records at five smelters in the U.S., Canada and Norway • Extended long-term agreement to supply smelter grade alumina to Aluminium Bahrain B.S.C. (Alba) over 10 years • Delivered $645 million profitability improvement program • Completed curtailment of Kwinana refinery in Australia • Completed the acquisition of Alumina Limited • Announced an agreement for the sale of 25.1% interest in the Ma’aden joint ventures • Paid quarterly cash dividends of $0.10 per share of stock, totaling $90 million • Finished 2024 with a cash balance of $1.1 billion, reflecting proceeds of $737 million from a green bond issuance and the repayment of Alumina Limited debt of $385 million   “Reflecting on 2024, it was a productive year for Alcoa as we delivered on strategic actions and operational improvements, including closing the acquisition of Alumina Limited, announcing the sale of our interest in the Ma’aden joint ventures, hitting production records and improving operational stability,” said Alcoa President and CEO William F. Oplinger. “Looking ahead to 2025, we will continue to drive operational excellence and improve our overall competitiveness.”       1   Fourth Quarter 2024 Results • Production : Alumina production decreased 2 percent sequentially to 2.39 million metric tons. In the Aluminum segment, production increased 2 percent sequentially to 571,000