Filing Flows › Alcoa (AA) › Q3 2026 › vs Q2 2026
Alcoa (AA) Q3 2026 vs Q2 2026 (quarter over quarter)
Alcoa's revenue fell $262M (-7%) from $4.0B in Q2 2026 to $3.7B in Q3 2026. Operating margin 15.5% against 12.2% (+3.3 pts).
Alcoa, Q3 2026: revenue $3.7B (+24% year over year), operating margin 15.5%, net earnings $483M, operating cash flow $643M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 15.5% | 12.2% | +3.3 pts |
| Net margin | 13.0% | 10.3% | +2.8 pts |
| Free cash flow margin | 12.7% | 10.6% | +2.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.7B | $4.0B | −$262M | -7% |
| Operating profit | $573M | $482M | $91.0M | +19% |
| Costs & expenses | $3.1B | $3.5B | −$353M | -10% |
| Pre-tax earnings | $573M | $482M | $91.0M | +19% |
| Cost of revenue | $2.8B | $3.0B | −$145M | -5% |
| Research & development | $8.0M | $11.0M | −$3.0M | -27% |
| SG&A | $97.0M | $101M | −$4.0M | -4% |
| Other operating costs | $204M | $405M | −$201M | -50% |
| Loss borne by minority interests | $1.0M | −$2.0M | $3.0M | — |
| Net earnings | $483M | $407M | $76.0M | +19% |
| Income tax | $91.0M | $73.0M | $18.0M | +25% |
| Depreciation & amortization | $176M | $173M | $3.0M | +2% |
| Share-based compensation | $13.0M | $17.0M | −$4.0M | -24% |
| Working capital & other | $29.0M | −$11.0M | $40.0M | — |
| Operating cash flow | $643M | $608M | $35.0M | +6% |
| Free cash flow (OCF − capex) | $472M | $422M | $50.0M | +12% |
| Capital expenditures | $171M | $186M | −$15.0M | -8% |
Questions
How much did Alcoa's revenue grow quarter over quarter in Q3 2026?
Alcoa's revenue fell $262M (-7%) from $4.0B in Q2 2026 to $3.7B in Q3 2026. Operating margin 15.5% against 12.2% (+3.3 pts).