Corporate Participants
- William Oplinger – President & Chief Executive Officer
- Molly Beerman – Executive Vice President & Chief Financial Officer
- James Dwyer – Vice President, Investor Relations
Prepared Remarks
James Dwyer: Good afternoon, and welcome to Alcoa fourth quarter 2025 earnings call. Joining me are Bill Oplinger, President and CEO, and Molly Beerman, CFO.
William Oplinger: Alcoa delivered improved fourth quarter results with revenue of $2.9 billion and adjusted EPS of $0.76. Higher aluminum prices and operational improvements drove sequential earnings growth.
Our alumina segment showed significant improvement, benefiting from favorable market conditions. Australian refinery operations performed well, and we continue to optimize our global production footprint.
Aluminum segment results improved sequentially on higher LME prices and better regional premiums. We continue to focus on cost reduction and operational excellence across our smelter portfolio.
Molly Beerman: Revenue increased 8% sequentially to $2.9 billion. Adjusted EBITDA was $450 million, up from $320 million in Q3. We ended with $1.5 billion in cash and no near-term debt maturities.
Q&A Session
Analyst: What are your expectations for aluminum market conditions in 2026?
William Oplinger: We are constructive on the outlook. Global demand remains healthy, particularly from EV and renewable energy sectors. Supply growth is constrained by energy costs and permitting challenges. We expect prices to remain supportive.
Analyst: Can you discuss progress on sustainability initiatives?
William Oplinger: Sustainability is core to our strategy. Our ELYSIS zero-carbon smelting technology is progressing toward commercial scale. We are also advancing renewable energy projects to reduce our carbon footprint.
Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, we cannot guarantee that all information is complete or error-free. Please refer to the company's official SEC filings for authoritative information.