Alcoa Drops 5% On Bleak Aluminum Outlook [Yahoo! Finance News]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Yahoo! Finance News
Alcoa plunged 4.8% in Wednesday's extended trading session after providing a bleak 4Q outlook for its Aluminum business. The company said it expects a decline in the Aluminum segment from 3Q due to higher power cost projections in Europe, increased maintenance and seasonal labor costs.Meanwhile, Alcoa (AA) reported stronger-than-expected 3Q results as revenues of $2.37 billion surpassed analyst’s expectations of $2.22 billion. The company reported an adjusted loss per share of $1.17 for the quarter, which was smaller than the Street estimates of a loss of $1.51 per share.The company’s top-line reflected a 10% sequential growth mainly driven by higher aluminum and alumina prices and increased shipments for alumina. Moreover, adjusted EBITDA increased 54% sequentially to $284 million. (See AA stock analysis on TipRanks).On September 25, B.Riley Financial analyst Lucas Pipes raised the stock’s price target to $14 (7.7% upside potential) from $11 and reiterated a Buy rating. Pipes believe
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News
- Forging Market Projected To Witness Substantial Growth, 2024-2031 [Yahoo! Finance]Yahoo! Finance
- Alcoa Schedules First Quarter 2024 Earnings Release and Conference CallBusiness Wire
- More from CNN [CNN]CNN
- More from CNN [CNN]CNN
- Alcoa (AA) Increases Despite Market Slip: Here's What You Need to Know [Yahoo! Finance]Yahoo! Finance
AA
Earnings
- 1/17/24 - Beat
AA
Sec Filings
- 3/21/24 - Form 8-K
- 3/20/24 - Form DEFA14A
- 3/19/24 - Form ARS
- AA's page on the SEC website