Novelis Posts FY2026 Loss on Oswego Disruptions

SEATTLE (Scrap Monster): Novelis Inc. reported weaker Q4 and full-year fiscal 2026 financial results. Production disruptions at its Oswego facility and tariff-related pressures significantly impacted the earnings..

According to a company news release, the Q4 revenue stood at $4.8 billion, up 4% from the same period a year earlier, supported by higher average aluminum prices. However, rolled product shipments dropped 12% to 844 kilotonnes due to operational setbacks at Oswego and weaker demand on account of geopolitical uncertainties.

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Novelis recorded a Q4 net loss of $84 million, compared with a net income of $294 million in the prior-year quarter. The decline was mainly due to $630 million in pre-tax losses in connection with the Oswego fire incident. In the meantime, adjusted EBITDA slipped 3% to $459 million.

For the full fiscal year, net sales climbed 7% to $18.4 billion, while rolled product shipments declined 5% to 3.56 million tonnes. Annual net income plunged 98% to $15 million, while adjusted EBITDA fell 9% to $1.6 billion.

Cash flow also weakened sharply, with operating cash turning negative and adjusted free cash outflow widening to $2.4 billion amid rising capital spending.

Chief Executive Officer Steve Fisher said the company remains focused on restarting Oswego in the coming weeks and commissioning its new Bay Minette, Alabama, rolling and recycling plant later this year.