- $200 million of common stock repurchased in Q2; $1.2 billion remains authorized for repurchases.
- Aluminum Operations had operating losses of $69 million in first half 2025, with estimated losses of $40 million in Q3 and improving to $15-$20 million in Q4.
- Capital investments for second half 2025 expected around $400 million, mainly for aluminum and biocarbon projects.
- Cash flow from operations was $302 million in Q2; liquidity ended at $1.9 billion including $744 million cash and short-term investments.
- Metal Recycling operating income was $21 million, $4 million lower sequentially due to lower realized ferrous pricing despite record shipments.
- Operating income of $383 million was 39% higher than the first quarter, driven by steel metal spread expansion.
- Second quarter 2025 net income was $299 million or $2.01 per diluted share with adjusted EBITDA of $533 million.
- Second quarter 2025 revenue was $4.6 billion, above sequential first quarter results due to higher realized steel pricing.
- Steel Fabrication operating income was $93 million, lower than first quarter due to pricing decline and increased steel substrate costs.
- Steel Operations operating income was $382 million, over 65% higher sequentially due to pricing increases despite modestly lower shipments.
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