UPDATE 2-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 fell 2 percent in after-market trading, dragging shares of rival Century Aluminum Co down 1 percent. Alcoa now expects adjusted EBITDA to range between $3.0 billion and $3.2 billion, compared to its previous forecast of $3.5 billion to $3.7 billion. U.S. President Donald Trump imposed tariffs of 25 percent on imports of steel and 10 percent on aluminum on countries including Canada and Mexico and the European Union that went into effect in June. Alcoa said the tariffs led to an extra $15 million in costs in the reported quarter that were mainly levied on aluminum imported from Canada, its biggest supplier. The company operates 3 smelter
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News
- Why Howmet Aerospace Stock Is Soaring Higher Today [Yahoo! Finance]Yahoo! Finance
- What's Hurting The Aluminum Market Should Be Good For Alcoa [Seeking Alpha]Seeking Alpha
- Industrial leader Dag J. Opedal elected to be the new Chair of HydrogenPro ASA [Yahoo! Finance]Yahoo! Finance
- Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]Seeking Alpha
- 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
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- 4/17/24 - Miss
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Sec Filings
- 5/2/24 - Form 10-Q
- 4/30/24 - Form DEFA14A
- 4/24/24 - Form DEFA14A
- AA's page on the SEC website