Alcoa

Q2 FY2026 EarningsQ2 2026 revenue reached a record $4.0B, up 24% QoQ and 31% YoY, driven by surging aluminum prices and volume. Adjusted EBITDA grew 51% QoQ to $901M, benefiting from higher shipments and average realized prices despite rising production costs in Alumina. Operating cash flow stood at $608M with free cash flow of $422M. The company announced a major $4.1B acquisition of South32 assets to strengthen its upstream positioning.