Alcoa Reports Q4 Results, EPS Beats But EBITDA Misses Estimates

Alcoa Reports Q4 Results, EPS Beats But EBITDA Misses Estimates Jan. 18, 2024, 11:53 a.m., readers: 16

Alcoa Corp (NYSE:AA) announced its fourth-quarter earnings for 2023. Despite surpassing expectations in earnings per share (EPS), the aluminum producer underperformed in terms of adjusted EBITDA. The company reported a narrower-than-expected fourth-quarter loss of $0.56 per share, compared to the anticipated loss of $0.84 per share by analysts. Alcoa's revenue matched the consensus estimate, coming in at $2.6 billion. However, the company's adjusted EBITDA for the quarter was $89 million, which, although an improvement from $29 million in the same period last year, fell short of Wall Street's expectations of $110.7 million. Specifically, aluminum adjusted EBITDA was reported at $88 million, up from last year's $31 million but below the analyst forecast of $97.8 million. Looking ahead to the first quarter of 2024, Alcoa anticipates that its Alumina Segment's adjusted EBITDA will be negatively impacted by approximately $15 million. This is attributed to higher maintenance costs and reduced shipments in Australia, as per the company's statement.

About NYSE: AA

A lcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations;

Price: 36.09
Market cap: 6.5 billion USD
Eps: -3.65
P/e ratio: -9.89
Focus Analysis On: AA
All news about: AA