— 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