Alcoa Corp. AA launched its first-quarter outcomes after Wednesday’s closing bell. This is a have a look at the important thing figures from the quarter.
The Particulars: Alcoa reported quarterly earnings of $2.15 per share, which beat the analyst consensus estimate of $1.70. Quarterly income got here in at $3.37 billion, which missed the analyst consensus estimate of $3.53 billion and is a rise over income of $2.6 billion from the identical interval final yr.
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- Manufacturing: Alumina manufacturing decreased 1% sequentially to 2.35 million metric tons. Within the aluminum section, manufacturing decreased 1 p.c sequentially to 564,000 metric tons.
- Shipments: Within the alumina section, third-party shipments of alumina decreased 8% sequentially. In aluminum, whole shipments decreased 5% sequentially.
- Income: Within the alumina section, third-party income decreased 8%. Within the aluminum section, third-party income was flat.
“Through the first quarter, we maintained our tempo of delivering on key operational and capital allocation goals, together with forming the three way partnership to assist our San Ciprián operations and repositioning debt in Australia,” stated Alcoa CEO William F. Oplinger.
“A constructive aluminum market led to stronger outcomes for the primary quarter, whereas we continued to deal with security, stability, and operational excellence amidst financial uncertainty,” Oplinger added.
AA Worth Motion: In line with information from Benzinga Professional, Alcoa shares have been up 0.92% after hours at $25.30 on Wednesday.
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Photograph Courtesy of Alcoa Corp.
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