Alcoa shares fall after mining company lowers outlook [MarketWatch]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: MarketWatch
Alcoa shares fall after mining company lowers outlook Shares of Alcoa Corp. AA, -0.12% fell 2.5% late Wednesday after the mining company beat Wall Street expectations for the second quarter but lowered its outlook for full-year profits. The company also said it expects global deficits for alumina and aluminum this year, and a surplus for bauxite. Alcoa earned $75 million, or 39 cents a share, in the second quarter, compared with $75 million, or 40 cents a share, in the year-ago quarter. Excluding one-time items, Alcoa earned $286 million, or $1.52 a share, compared with $116 million, or 62 cents a share, a year ago. Revenue rose to $3.6 billion, from $2.8 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.32 a share on sales of $3.5 billion in the quarter. Alcoa lowered its full-year outlook for adjusted EBITDA to a range between $3 billion and $3.2 billion, down from the prior quarter's range between $3.5 billion and $3.7 billion. "The new full-year
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- Alcoa Co. (NYSE: AA) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating. They now have a $36.50 price target on the stock, up previously from $28.50.MarketBeat
- Alcoa Co. (NYSE: AA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
AA
Earnings
- 4/17/24 - Miss
AA
Sec Filings
- 4/24/24 - Form DEFA14A
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website