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

Coca-Cola (KO) Q1 2021 earnings release

The Coca-Cola Company (NYSE: KO) reported first-quarter 2021 financial results before the regular market hours on Monday. The beverage manufacturer reported fourth-quarter revenue of $9 billion, up 5% year-over-year. The

Earnings calendar for the week of April 19

The market rally gathered pace this week amid impressive quarterly results, led by the banking sector, and positive economic data. Leading stock indexes continued their winning streak, with S&P 500

Undeterred by crisis, Bank of America stays in expansion mode

Leading Wall Street banks recorded robust earnings in the early months of fiscal 2021 with the results benefiting from the release of credit loss reserves, in most cases. Taking advantage

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