Alcoa Beats Q3 EPS Expectations, Rides Alumina Price Surge Despite Production Hiccups [Yahoo! Finance]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Yahoo! Finance
On Wednesday, the company reported third quarter sales of $2.904 billion, missing the consensus of $2.967 billion Alumina production dropped 4% sequentially to 2.44 million metric tons, mainly due to the full curtailment of the Kwinana refinery in June 2024. Meanwhile, aluminum production rose 3% sequentially to 559,000 metric tons, driven by progress on the Alumar smelter restart. In the Alumina segment, third-party shipments dropped 9% sequentially, mainly due to reduced trading activity. In the Aluminum segment, total shipments fell 6% on a sequential basis, owing to lower trading and shipment timing. Adjusted EBITDA, excluding special items, rose to $455 million from $325 million in the second quarter thanks to higher alumina prices and lower raw material costs. Adjusted EPS of $0.57 exceeded the consensus of $0.28 The company ended the third quarter of 2024 with a cash balance of $1.3 billion. Dividend : The Board of Directors declared a quarterly cash dividend of
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