Filing Flows › Alcoa (AA) › Q2 2025
Alcoa (AA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Alcoa (AA) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), +4% from a year earlier and -10% from the quarter before. Operating margin was 5.3%, net earnings $164M (5.4% of revenue).
Alcoa, Q2 2025: revenue $3.0B (+4% year over year), operating margin 5.3%, net earnings $164M, operating cash flow $488M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | -10% | +4% |
| Operating profit | $161M | -76% | +75% |
| Net earnings | $164M | -70% | +720% |
| Operating cash flow | $488M | +551% | +70% |
| Free cash flow | $357M | — | +190% |
What changed
Revenue was $3.0B in Q2 2025, up 4% year over year and down 10% from the previous quarter. Aluminum was the largest line at 66% of revenue. Bauxite added $0.11B year over year (up 111%), 96% of the total change. Alumina declined 8%.
Operating profit was $0.16B, a 5.3% margin (up 2.2 points year over year). Of the extra revenue versus a year earlier, 62% reached operating profit, above the 3% margin then. Total costs grew 2% against revenue growth of 4%. The fastest-growing cost line was SG&A (+19%). Net earnings were $0.16B, up 720% year over year ($0.15B including minority interests, which bore $0.01B of losses). The effective tax rate was 6.2%.
Operating cash flow was $0.49B (up 70% year over year), 323% of net income including minority interests. Non-cash charges added back $0.15B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.13B left free cash flow of $0.36B.
Questions
What was Alcoa's revenue in the second quarter 2025?
Alcoa (AA) reported revenue of $3.0B for the second quarter 2025 (Q2 2025), +4% from a year earlier and -10% from the quarter before.
Was Alcoa profitable in the second quarter 2025?
Operating profit was $161M (5.3% of revenue) and net earnings $164M.
Source: Alcoa 10-Q on SEC EDGAR.