Alcoa Corporation reported Net Income attributable to Alcoa of $548 million, or $2.07 per common share, for the first quarter of 2025, a substantial increase from $202 million in the prior quarter and a $252 million loss in the first quarter of 2024. Adjusted net income reached $568 million, or $2.15 per share, while Adjusted EBITDA increased to $855 million.
The strong financial performance was primarily driven by a positive aluminum market, lower restructuring charges, and favorable currency impacts. Key strategic actions during the quarter included the formation of the joint venture to support the San Ciprián operations and the repositioning of debt in Australia.
For the second quarter of 2025, Alcoa expects the Alumina Segment Adjusted EBITDA to maintain its strong performance. However, the Aluminum Segment is projected to experience unfavorable impacts of approximately $90 million due to U.S. Section 232 tariffs on Canadian aluminum imports, and $15 million from San Ciprián smelter restart costs.
Alumina costs within the Aluminum segment are expected to be favorable by $165 million sequentially in Q2 2025. Other expenses are anticipated to increase by approximately $10 million due to equity investment losses, while operational tax is projected to be a benefit of $50 million to $60 million.
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