— Aluminum supplier Alcoa Corporation (NYSE: AA) reported an adjusted loss of $0.31 per share for the fourth quarter of 2019, vs. $0.23 per share loss expected.
— Unadjusted net loss was $303 million or $1.63 per share for the quarter, compared to a profit of $51 million or $0.27 per share in the fourth quarter of 2018.
— Revenues decreased to $2.4 billion during the three-month period from $3.3 billion last year, vs. $2.47 billion expected
— During the quarter, the company initiated steps in a multi-year portfolio review and continuing work to strengthen its balance sheet
— Ended the quarter with cash on hand of $879 million and debt of $1.8 billion
— Predicts a global aluminum surplus ranging between 600 thousand to 1 million metric tons in 2020
— Expects bauxite shipments to range between 48 and 49 million dry metric tons in fiscal 2020
— Estimates total alumina shipments to be between 13.6 and 13.7 million metric tons this year; aluminum segment is expected to ship between 3 and 3.1 million metric tons
— Expects lower quarterly results in the Bauxite segment in the first quarter, due to lower pricing and seasonally lower volumes
— Expects annual operational tax rate ranging from 70 to 80 percent
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
