Alcoa Q3 EPS $1.81, $472M Free Cash Flow; South32 Deal Clears Shareholder Vote
AA sits 21% above its 52-week low of $35.12.
Summary
Alcoa reported Q3 2026 net income of $483M ($1.81/share) and $472M of free cash flow, while South32 shareholders approved the $4.1B AliGroup acquisition the same day. The deal remains on track to close in the first half of 2027, and the Massena East sale carries $50-$65M of upfront proceeds with up to $250M in contingent payments tied to data center capacity over seven years.
Updated with a Wiseek News report · What changed
Updates
· Wiseek News — Massena East sale upfront proceeds are $50-$65M with up to $250M in contingent payments tied to data center capacity over seven years.
Key Events · Earnings and Guidance · AA
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Updated · · Wiseek News
Massena East Sale Adds Up to $315M
Definitive agreements cover portions of the Massena East, New York site: $50M-$65M at closing (expected within six months) plus $60M-$250M in capacity-based installments over seven years, with the contingent payments tied to data center capacity.
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Q3 2026 Earnings Beat Prior Year
Net income attributable to Alcoa was $483M, or $1.81 per diluted share, on revenue of $3,704M — up from $232M/$0.88 in Q3 2025.
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Sequential Softening in Pricing and Volumes
Revenue fell 7% and adjusted EBITDA excluding special items fell $112M to $789M versus Q2 2026, as lower aluminum prices and shipments offset higher alumina prices and improved production costs.
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South32 Shareholders Approve Acquisition
South32 shareholders approved the $4.1B AliGroup acquisition on October 15, 2026; closing is expected in the first half of 2027, with the $2.6B notes offering already completed to fund the cash consideration.
Analysis · AA · Manufacturing
Alcoa earned $483M ($1.81/share) in Q3 2026 on $3.7B of revenue, with $472M of free cash flow and a $4.4B cash balance that already includes the $2.6B raised for the South32 acquisition. The bigger news is that South32 shareholders approved the $4.1B AliGroup acquisition on the same day, clearing the last major shareholder hurdle and keeping the deal on track to close in the first half of 2027. The quarter was softer than Q2 on pricing and shipments — adjusted EBITDA fell $112M sequentially to $789M and adjusted EPS dropped to $1.82 from $2.12 — but the balance sheet is now funded for the deal, and the Massena East land sale adds up to $315M of potential proceeds, structured as $50-$65M upfront and up to $250M in contingent payments tied to data center capacity over seven years. Q4 guidance points to higher volumes offset by roughly $60M of combined cost headwinds.
How filings like this one have moved
In the 30 days to Oct 17, 2026, 29.7% of the 1531 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AA was trading at $42.39 on NYSE in the Manufacturing sector, with a market capitalization of approximately $10.7B. The 52-week trading range was $35.12 to $84.38. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.