Alcoa Corporation Reports Q4 Results Exceeding Expectations with $3.45 Billion Revenue
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2026
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Source: Benzinga
- Significant Revenue Growth: Alcoa's Q4 revenue reached $3.45 billion, a 15% sequential increase that surpassed the market expectation of $3.31 billion, indicating strong business performance driven by rising aluminum prices and CO₂ compensation.
- Enhanced Profitability: The adjusted EPS of $1.26 exceeded the consensus of $0.92, reflecting successful cost control and production efficiency, which bolstered investor confidence in the company's financial health.
- Production Increases: Alumina production rose 1% quarter-over-quarter to 2.48 million metric tons, while aluminum production increased 4% to 604,000 metric tons, primarily due to the restart of the San Ciprián smelter in Spain, further solidifying the company's market position.
- Optimistic Outlook: Alcoa projects alumina production for fiscal 2026 to be around 9.7 to 9.9 million metric tons and aluminum production to be approximately 2.4 to 2.6 million metric tons, although the first quarter may face challenges from seasonal maintenance and rising costs, the long-term growth potential remains strong.
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Analyst Views on AA
Wall Street analysts forecast AA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AA is 46.00 USD with a low forecast of 33.00 USD and a high forecast of 58.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
6 Buy
2 Hold
2 Sell
Moderate Buy
Current: 60.640
Low
33.00
Averages
46.00
High
58.00
Current: 60.640
Low
33.00
Averages
46.00
High
58.00
About AA
Alcoa Corporation is a vertically integrated aluminum company comprised of bauxite mining, alumina refining, aluminum production (smelting and casting), and energy generation. The Company’s operations are comprised of two business segments: Alumina and Aluminum. The Alumina segment primarily consists of its bauxite mines and alumina refineries, which generally include the mining of bauxite and other aluminous ores, as well as the refining, production, and sale of smelter grade and non-metallurgical alumina. The alumina produced by this segment is sold to internal and external aluminum smelter customers; a portion of the alumina is sold to external customers who process it into industrial chemical products. The Aluminum segment consists of the Company’s aluminum smelting and casting operations along with the Company’s energy production assets in Brazil, Canada, and the United States. It has direct and indirect ownership of 26 operating locations across nine countries on six continents.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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