Aluminum maker Alcoa Q3 revenue misses estimates on lower aluminum prices, shipments
AA•Alcoa reported Q3 revenue of $3.70 billion, below the $3.79 billion consensus, while adjusted EPS of $1.82 beat the $1.47 estimate. It reaffirmed 2026 production guidance and expects higher Q4 production and shipments in both segments.
1. Quarterly results
Alcoa's Q3 revenue declined sequentially to $3.70 billion, missing analyst expectations as lower aluminum prices and shipments weighed on its aluminum segment. Adjusted EPS was $1.82, above the $1.47 consensus, and adjusted net income of $485 million beat the $378.19 million estimate.
2. Outlook and operations
Alcoa reaffirmed its 2026 alumina production guidance of 9.5 million to 9.6 million metric tons and aluminum production outlook of 2.4 million to 2.6 million metric tons. The company expects higher Q4 production and shipments in both segments, advanced its AliGroup acquisition and completed the Alumar smelter restart.
