# Alcoa Posts $1.82 Adjusted EPS as Q3 Revenue Falls 7% Sequentially

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/33039
Published: 2026-10-16T05:06:49.000Z
Updated: 2026-10-16T05:06:49.000Z
Section: Business

> Revenue totaled $3.704 billion, down 7% from the second quarter. Aluminum-segment revenue declined 9% amid lower shipments and realized prices.

Alcoa posted $1.82 in adjusted earnings per share for the third quarter as consolidated revenue fell 7% sequentially, with aluminum-segment sales also declining amid lower shipments and realized prices.

For the three months ended Sept. 30, 2026, revenue was $3.704 billion. It had been $3.966 billion in the second quarter and $2.995 billion in the year-earlier quarter.

Alcoa recorded $483 million in attributable net income, equivalent to $1.81 per share. Adjusted net income totaled $485 million, with adjusted earnings per share at $1.82. The adjusted figures are non-GAAP measures that exclude restructuring and other charges, tax items and other special items. Adjusted EPS was $2.12 in the prior quarter and a loss of $0.02 per share a year earlier.

Adjusted EBITDA excluding special items came to $789 million, a $112 million sequential decline. Lower aluminum prices and shipments outweighed improvements in production costs and higher alumina prices. The company’s aluminum shipments decreased 5% from the previous quarter.

Production increased in both businesses. Alumina output rose 11% to 2.5 million metric tons, while aluminum output was up 2% to 649,000 metric tons. Third-party revenue from the alumina segment increased 7% sequentially; aluminum-segment third-party revenue fell 9% as shipments and average realized prices declined.

Alcoa expects production and shipments to grow in both segments in the fourth quarter. It projects about $30 million in sequential pressure on aluminum-segment results from higher raw-material costs and planned maintenance. Alumina costs are expected to add roughly $30 million more pressure to the aluminum segment.