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Alcoa AA Aluminum — Adjusted Operating Costs

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STLDAluminum Operations — Goodwill
$14M0.0%
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STLDAluminum Operations — Revenue
$518.92M+455%
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STLDAluminum Operations — Cost of Goods Sold
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TGAluminum Extrusions — Manufacturing fixed costs
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Other financials

Income statement

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Revenue$4.0B+31.4%
Gross profit$999.0M+173%
Net income$407.0M+148%
EPS (diluted)$1.53+147%

Balance sheet

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Cash & equivalents$1.4B-10.7%
Total debt$2.2B-13.8%
Total equity$5.2B+21.3%
Total assets$16.9B+12.4%

Cash flow

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Operating cash flow$608.0M+24.6%
CapEx-$424.0M-424%
Free cash flow$184.0M-48.5%

Valuation

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Market cap$12.53B+63.8%
Enterprise value$13.4B+53.7%
P/E9.8×+2.2×
P/S0.9×+0.3×

Profitability

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Gross margin18.8%-1.4pp
Net margin9.4%+1.5pp
FCF margin4.6%+3.3pp

Returns & leverage

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Return on equity1.3%+0.7pp
Debt / equity0.5×+0.1×
Current ratio1.5×-0.1×

Where this comes from

Reported directly by Alcoa in its filing.

Tagged under the XBRL concept aa:AdjustedOperatingCosts.

The source filing: Alcoa’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:26 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-197447
First quarter ended March 31, 2026AluminaAluminumTotal
Third-party sales$657$2,536$3,193
Intersegment sales4455450
Total sales$1,102$2,541$3,643
Adjusted operating costs(1)7371,4302,167
Other segment items(2)405417822
Segment Adjusted EBITDA$(40)$694$654
Supplemental information:
Depreciation, depletion, and amortization$86$71$157

Item 1. Financial Statements.

FAQ

What is Alcoa's aluminum — adjusted operating costs?
Alcoa (AA) reported aluminum — adjusted operating costs of $1.43B in Q1 2026.
How has Alcoa's aluminum — adjusted operating costs changed year-over-year?
Alcoa's aluminum — adjusted operating costs decreased by 9.1% year-over-year, from $1.57B to $1.43B.
What is the long-term trend for Alcoa's aluminum — adjusted operating costs?
Over 3 years (2022 to 2025), Alcoa's aluminum — adjusted operating costs has grown at a 2.9% compound annual growth rate (CAGR), from $5.6B to $6.11B.
What does aluminum — adjusted operating costs mean?
The total operating expenses incurred by the Aluminum segment, adjusted to exclude non-recurring or non-operational items to better reflect core business performance. This metric is essential for evaluating the segment's cost structure and operational efficiency.

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