Alcoa misses estimate as Brazil drought hits production [Reuters]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Reuters
Alcoa misses estimate as Brazil drought hits production | Reuters Reuters Staff 3 Min Read (Reuters) - Aluminum producer Alcoa Corp’s ( AA.N ) profit and revenue both missed market estimates for the fourth quarter as a drought in Brazil hit bauxite production and higher power prices in Spain boosted expenses, the company said on Wednesday. Alcoa’s shares, which closed up 1.3 percent in the regular session, fell nearly 6 percent in after-hours trading. The company said the drought in Brazil led to an acute water shortage that not only hit its bauxite business, but also affected profits from its hydropower system in the country. Bauxite is usually covered by an several layers of rock and clay, which must be removed in crushing or washing plants before being processed. “We have lower-than-expected global alumina segments due to weather delays and difficulties with shipload,” Chief Executive Roy Harvey said on a call with analysts, noting the results were about $50 million lower than th
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News
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AA
Earnings
- 4/17/24 - Miss
AA
Sec Filings
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website