Alcoa reported third-quarter 2026 underlying income of USD 485 million, down 14% from second-quarter 2026. This includes a 5% decline in realized aluminum price to USD 2.05 per pound and a 5% decline in aluminum shipments to 0.7 million metric tons. Higher alumina volumes and price partially offset.
Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and manufacturing primary aluminum. It is one of the world’s largest bauxite miners and alumina refiners by production volume, but sits outside the top-10 aluminum producers, a list dominated by Chinese companies. Profits are closely tied to prevailing commodity prices along the aluminum supply chain.Alcoa was the first mass producer of aluminum, launching the world-changing Hall-Heroult smelting process in the 1880s, making aluminum affordable. It was listed as a public company in 1925. In 2016, Alcoa spun off its automotive and aerospace metal parts segment to focus on mining, smelting, and refining. It bought the 40% unowned balance of AWAC in mid-2024.