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Adjusted EBITDA by Segment
Provides a detailed look at profitability across different business units, highlighting which segments drive earnings and where there might be efficiency gains or challenges.Alcoa’s economics have increasingly been driven by Aluminum—the segment is the clear cash engine—while Alumina has swung from big gains to sharp recent deterioration (now negative), driven by Pinjarra disruptions, energy/caustic and carbon cost pressures. Bauxite EBITDA drops to zero, signaling a portfolio shift or de‑reporting. Management’s South32 deal would bulk up alumina capacity and deliver $900M of synergies, but it brings near‑term fees, higher corporate costs and integration risk; monitor alumina operational recovery and energy/carbon cost trajectories to see if aluminum’s record margins can cover the transition.
Date | Bauxite | Alumina | Aluminum |
|---|---|---|---|
Sep 30, 2026 | $0.00 | -$1.00M | $862.00M |
Jun 30, 2026 | $0.00 | -$96.00M | $1.07B |
Mar 31, 2026 | $0.00 | -$40.00M | $694.00M |
Dec 31, 2025 | $0.00 | $12.00M | $520.00M |
Sep 30, 2025 | $0.00 | $67.00M | $307.00M |
Jun 30, 2025 | $0.00 | $139.00M | $97.00M |
Mar 31, 2025 | $0.00 | $664.00M | $134.00M |
Dec 31, 2024 | $0.00 | $716.00M | $194.00M |
Sep 30, 2024 | $0.00 | $367.00M | $180.00M |
Jun 30, 2024 | $0.00 | $186.00M | $233.00M |