Alcoa Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.83B | $11.90B | $10.55B | $12.45B | $12.15B | $9.29B | $10.43B | $13.40B |
| Alumina | $3.66B | $4.25B | $3.10B | $3.48B | $3.13B | $2.62B | $3.25B | $4.21B |
| Primary Aluminum | — | — | — | $8.89B | $8.42B | $5.19B | $5.43B | $6.79B |
| Aluminum | $8.52B | $7.36B | $7.05B | — | — | — | — | — |
| Flat-Rolled Aluminum | — | — | — | $0 | $320.0M | $1.12B | $1.22B | $1.88B |
| Bauxite | $727.0M | $376.0M | $466.0M | $168.0M | $207.0M | $238.0M | $276.0M | $254.0M |
| Energy | $190.0M | $147.0M | $118.0M | $201.0M | $286.0M | $141.0M | $290.0M | $335.0M |
| Other Products | $-263.0M | $-233.0M | $-181.0M | $-283.0M | $-206.0M | $-22.0M | $-25.0M | $-66.0M |
| Cost of Revenue | $10.66B | $10.04B | $9.81B | $10.21B | $9.15B | $7.97B | $8.54B | $10.05B |
| Gross Profit | $2.17B | $1.85B | $738.0M | $2.24B | $3.00B | $1.32B | $1.90B | $3.35B |
| Gross Margin | 16.9% | 15.6% | 7.0% | 18.0% | 24.7% | 14.2% | 18.2% | 25.0% |
| Operating Expenses | ||||||||
| Research & Development | $24.0M | $57.0M | $39.0M | $32.0M | $31.0M | $27.0M | $27.0M | $31.0M |
| SG&A Expense | $299.0M | $275.0M | $226.0M | $204.0M | $227.0M | $206.0M | $280.0M | $248.0M |
| Operating Income | $1.22B | $445.0M | $-477.0M | $808.0M | $1.39B | $319.0M | $-317.0M | $1.75B |
| Operating Margin | 9.5% | 3.7% | -4.5% | 6.5% | 11.5% | 3.4% | -3.0% | 13.0% |
| Interest Expense | $158.0M | $156.0M | $107.0M | $106.0M | $195.0M | $146.0M | $121.0M | $122.0M |
| Pretax Income | $1.06B | $289.0M | $-584.0M | $702.0M | $1.20B | $173.0M | $-438.0M | $1.63B |
| Income Tax Expense | $-55.0M | $265.0M | $189.0M | $664.0M | $629.0M | $187.0M | $415.0M | $732.0M |
| Net Income | $1.16B | $60.0M | $-651.0M | $-123.0M | $429.0M | $-170.0M | $-1.13B | $250.0M |
| Net Margin | 9.0% | 0.5% | -6.2% | -1.0% | 3.5% | -1.8% | -10.8% | 1.9% |
| EPS (Basic) | $4.40 | $0.26 | $-3.65 | $-0.68 | $2.30 | $-0.91 | $-6.07 | $1.34 |
| EPS (Diluted) | $4.37 | $0.26 | $-3.65 | $-0.68 | $2.26 | $-0.91 | $-6.07 | $1.33 |
| Shares Outstanding (Basic) | 259.0M | 212.0M | 178.0M | 181.0M | 186.0M | 186.0M | 185.0M | 186.0M |
| Shares Outstanding (Diluted) | 261.0M | 214.0M | 178.0M | 181.0M | 190.0M | 186.0M | 185.0M | 189.0M |
| Dividends Per Share | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | — | — | — |