Alcoa Corporation Declared Stellar Q4 and Full Year 2024 Results

SEATTLE (Scrap Monster):  Results for the fourth quarter and the entire year 2024 were released by Alcoa Corporation. The business had major advancements in operational stability as well as improvements in financial performance.

A press release from the firm stated that Q4 2024 revenues increased by 20% sequentially to $3.5 billion. The net income reached $202 million, or $0.76 per share, a significant rise of 124% over the previous quarter. In Q4 of last year, adjusted net income reached $276 million, or $1.04 per common share, a significant sequential rise of 104%. Additionally, the adjusted EBITDA (excluding extraordinary items) was $667 million, which was 49% more than the previous quarter.

For the full year 2024, revenue increased by 13% to $11.9 billion. The company reported higher net income of $60 million, or $0.26 per common share during the previous year. The adjusted net income was up to $296 million, or $1.35 per common share. Also, the company reported an adjusted EBITDA excluding special items of $1.6 billion in 2024.

The company achieved record annual production at five smelter facilities in the U.S., Canada and Norway.

"2024 was a productive year for the company as it delivered on strategic actions and operational improvement," said William F. Oplinger, President and CEO of Alcoa. According to him, the business plans to keep advancing operational excellence and raising its level of overall competitiveness in 2025.