Alcoa 2025 performance: Revenue jumped 15% in Q4, supported by record output at five aluminum smelters

Failing initially doesn't mean failing overall - it just means something needs to be fixed, and that's what summarises the whole of Alcoa's financial report card. Alcoa started the year well, but after that it mostly went quiet. The business didn't really improve again until the last quarter, which is what ended up saving the year.

If we look at the numbers, revenue started strong. In the first quarter, Alcoa pulled in USD 3.36 billion, enough to make it look like the rebound was finally for real. But that didn't last. By Q2, revenue slipped to USD 3 billion, dropping more than 10 per cent.