Filing Flows › Alcoa (AA) › Q2 2026
Alcoa (AA) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 30, 2026
Alcoa (AA) reported revenue of $4.0B for the second quarter 2026 (Q2 2026), +31% from a year earlier and +24% from the quarter before. Operating margin was 12.2%, net earnings $407M (10.3% of revenue).
Alcoa, Q2 2026: revenue $4.0B (+31% year over year), operating margin 12.2%, net earnings $407M, operating cash flow $608M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.0B | +24% | +31% |
| Operating profit | $482M | -3% | +199% |
| Net earnings | $407M | -4% | +148% |
| Operating cash flow | $608M | — | +25% |
| Free cash flow | $422M | — | +18% |
What changed
Revenue was $4.0B in Q2 2026, up 31% year over year and up 24% from the previous quarter.
Operating profit was $0.48B, a 12.2% margin (up 6.8 points year over year). Of the extra revenue versus Q2 2025, 34% reached operating profit, above the 5% margin then. Total costs grew 22% against revenue growth of 31%. The fastest-growing cost line was Other operating costs (+265%). Net earnings were $0.41B, up 148% year over year. The effective tax rate was 15.1%.
Operating cash flow was $0.61B (up 25% year over year), 149% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Capital expenditures of $0.19B left free cash flow of $0.42B.
Questions
What was Alcoa's revenue in the second quarter 2026?
Alcoa (AA) reported revenue of $4.0B for the second quarter 2026 (Q2 2026), +31% from a year earlier and +24% from the quarter before.
Was Alcoa profitable in the second quarter 2026?
Operating profit was $482M (12.2% of revenue) and net earnings $407M.
Source: Alcoa 10-Q on SEC EDGAR.