Alcoa sees maintaining strong performance in Q2 Alumina EBITDA

Within the second quarter 2025 Alumina Segment Adjusted EBITDA, the Company expects to maintain the strong level of performance delivered in the first quarter 2025. For the second quarter 2025, the Aluminum Segment expects sequential unfavorable impacts of $90 million due to U.S. Section 232 tariffs on imports of aluminum from Canada, and $15 million of restart costs for the San Ciprian smelter. Alumina costs in the Aluminum segment are expected to be favorable by $165 million sequentially. The Company expects Other expenses for the second quarter 2025 to increase approximately $10 million sequentially due to equity investment losses. Based on current alumina and aluminum market conditions, Alcoa (AA) expects second quarter 2025 operational tax benefit to approximate $50 million to $60 million, which may vary with market conditions and jurisdictional profitability.