Novelis reports $84M Q4 loss due to Oswego plant fires; FY2026 net income down 98%

Novelis Inc. posted a fourth quarter net loss of $84 million driven by $630 million in pre-tax losses from September and November fires at its Oswego, U.S. plant, which reduced rolled product shipments by an estimated 73 kilotonnes. Full fiscal year 2026 net income fell 98% to $15 million as fires and tariffs reduced EBITDA by $247 million combined, though management expects the Oswego hot mill to restart ahead of schedule.