CORRECTED-UPDATE 1-Alcoa cuts adjusted EBITDA forecast citing tariffs, shares slide [Reuters]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Reuters
Alcoa cuts adjusted EBITDA forecast citing tariffs, shares slide | Reuters Reuters Staff 2 Min Read (Reuters) - Aluminum producer Alcoa Corp lowered its forecast for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for 2018 on Wednesday, citing U.S tariffs on imported aluminum and rising energy costs. The company’s shares were down 4 percent in after-market trading. Alcoa now expects adjusted EBITDA to range between $3.0 billion and $3.2 billion, compared with its previous forecast of $3.5 billion to $3.7 billion. Alcoa said it had incurred $15 million in costs related to the tariffs. The company’s imports are mostly from Canada where the U.S. government’s Section 232 tariffs became effective on June 1. President Trump imposed U.S. tariffs of 25 percent on imports of steel and 10 percent on aluminum in March on countries including Canada, Mexico and the European Union. The company said that uncertainty continues to exist in the global supply chain due to
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AA
Earnings
- 1/17/24 - Beat
AA
Sec Filings
- 4/4/24 - Form 4
- 3/21/24 - Form 8-K
- 3/20/24 - Form DEFA14A
- AA's page on the SEC website