Categories Earnings, Other Industries

Alcoa Corporation (NYSE: AA): Q4 2019 Earnings Snapshot

— 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

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top