Filing Flows › Alcoa (AA) › Q2 2026 › vs Q2 2025
Alcoa (AA) Q2 2026 vs Q2 2025 (year over year)
Alcoa's revenue rose $948M (+31%) from $3.0B in Q2 2025 to $4.0B in Q2 2026. Operating margin 12.2% against 5.3% (+6.8 pts).
Alcoa, Q2 2026: revenue $4.0B (+31% year over year), operating margin 12.2%, net earnings $407M, operating cash flow $608M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 12.2% | 5.3% | +6.8 pts |
| Net margin | 10.3% | 5.4% | +4.8 pts |
| Free cash flow margin | 10.6% | 11.8% | -1.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $4.0B | $3.0B | $948M | +31% |
| Operating profit | $482M | $161M | $321M | +199% |
| Costs & expenses | $3.5B | $2.9B | $627M | +22% |
| Pre-tax earnings | $482M | $161M | $321M | +199% |
| Cost of revenue | $3.0B | $2.7B | $315M | +12% |
| Research & development | $11.0M | $12.0M | −$1.0M | -8% |
| SG&A | $101M | $82.0M | $19.0M | +23% |
| Other operating costs | $405M | $111M | $294M | +265% |
| Net earnings | $407M | $164M | $243M | +148% |
| Minority interests | $2.0M | −$13.0M | $15.0M | — |
| Income tax | $73.0M | $10.0M | $63.0M | +630% |
| Depreciation & amortization | $173M | $153M | $20.0M | +13% |
| Share-based compensation | $17.0M | $12.0M | $5.0M | +42% |
| Working capital & other | $11.0M | $159M | −$148M | -93% |
| Operating cash flow | $608M | $488M | $120M | +25% |
| Free cash flow (OCF − capex) | $422M | $357M | $65.0M | +18% |
| Capital expenditures | $186M | $131M | $55.0M | +42% |
Questions
How much did Alcoa's revenue grow year over year in Q2 2026?
Alcoa's revenue rose $948M (+31%) from $3.0B in Q2 2025 to $4.0B in Q2 2026. Operating margin 12.2% against 5.3% (+6.8 pts).