Alcoa CFO Molly Beerman stated that second-quarter momentum is carrying into the third quarter. The company reports strong production and pricing driven by demand from North American and European customers. Alcoa’s value-add product order book is nearly sold out through the end of 2026.
The acquisition of South32 assets will add between $350 million and $450 million in annual capital expenditures. Alcoa issued $2.6 billion in debt to fund the transaction.
Management is prioritizing balance sheet deleveraging following the acquisition. The company expects the new assets to be immediately value-accretive and improve overall competitiveness.