Alcoa (NYSE:AA) just delivered back-to-back quarterly performances that scream resilience and strategy. In Q2, the aluminum giant posted $325 million in adjusted EBITDA, beating Wall Street's expectations and doubling up on earnings per share at $0.16. Fast forward to Q3, and the momentum didn't just holdit skyrocketed. Adjusted EBITDA hit $455 million, with adjusted net income leaping to $135 million, a huge improvement from earlier this year. The secret sauce? Higher alumina prices, smarter cost management, and a headline-grabbing acquisition of Alumina Limited that's set to streamline its operations and cut costs.

• Warning! GuruFocus has detected 9 Warning Signs with AA.

Investors are taking notice. After some early jitters, Alcoa's stock is cruising around $44.64, reflecting growing confidence in its trajectory. Citi analyst Alexander Hacking called the numbers solid and kept his bullish price target of $50 intact. Management remains laser-focused, maintaining its full-year shipment guidance while bolstering its supply chain efficiency. The Alumina Limited deal alone is a game-changer, giving Alcoa tighter control over its raw materialsa move the market is cheering. Meanwhile, with aluminum prices rebounding from last year's lows, Alcoa's strategic positioning looks sharper than ever.

And it's not just about this year. Alcoa's CEO William Oplinger is all in on future-proofing the business, with plans to boost profitability by $645 million by the end of 2025. Major moves like the $1.1 billion sale of its Ma'aden stake and a decade-long alumina supply deal with Aluminium Bahrain are reinforcing Alcoa's global dominance. This isn't just another quarter of decent results; it's Alcoa staking its claim as a leader in the aluminum space while setting the stage for even bigger wins ahead.