Filing Flows › Alcoa (AA) › Q1 2026
Alcoa (AA) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Alcoa (AA) reported revenue of $3.2B for the first quarter 2026 (Q1 2026), -5% from a year earlier and -7% from the quarter before. Operating margin was 15.6%, net earnings $425M (13.3% of revenue).
Alcoa, Q1 2026: revenue $3.2B (-5% year over year), operating margin 15.6%, net earnings $425M, operating cash flow −$179M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.2B | -7% | -5% |
| Operating profit | $499M | +634% | -25% |
| Net earnings | $425M | +100% | -22% |
| Operating cash flow | −$179M | -133% | -339% |
What changed
Revenue was $3.2B in Q1 2026, down 5% year over year and down 7% from the previous quarter.
Operating profit was $0.50B, a 15.6% margin (down 4.2 points year over year). Total costs fell 0% while revenue fell 5%. The fastest-growing cost line was SG&A (+17%). Net earnings were $0.42B, down 22% year over year ($0.42B including minority interests, which bore $0.01B of losses). The effective tax rate was 16.4%.
Operating cash flow was −$0.18B. Non-cash charges added back $0.16B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.77B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.30B.
Questions
What was Alcoa's revenue in the first quarter 2026?
Alcoa (AA) reported revenue of $3.2B for the first quarter 2026 (Q1 2026), -5% from a year earlier and -7% from the quarter before.
Was Alcoa profitable in the first quarter 2026?
Operating profit was $499M (15.6% of revenue) and net earnings $425M.
Source: Alcoa 10-Q on SEC EDGAR.