Markets continue their slide this Hump Day, with a new Beige Book this afternoon demonstrating mild strength in most areas and modest declines in others. There was also a North American Home Builders Confidence Index for January out today, showing the biggest jump month-over-month since the Great Reopening first got underway in mid-2020, to the highest level, 44, since September. A cycle low of 34 came in November of last year. Finally, Industrial Production and Capacity Utilization both outperformed expect ...

4th Quarter Earnings Alcoa Corporation January 17, 2024 Cautionary Statement regarding Forward-Looking Statements This presentation contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “aims,” “ambition,” “anticipates,” “believes,” “could,” “develop,” “endeavors,” “estimates,” “expects,” “forecasts,” “goal ...

Core Viewpoint - American Aluminum (AA.US) reported its Q4 and full-year financial results for 2023, showing a decline in revenue and an increase in net losses compared to the previous year [1] Financial Performance Summary - Q4 revenue was $2.595 billion, down approximately 3% from $2.663 billion year-over-year, meeting market expectations [1] - The company reported a net loss of $150 million for Q4, compared to a loss of $39,500 in the same period last year [1] - Adjusted EBITDA for Q4 was $89 million, up from $29 million year-over-year but below analyst expectations of $110.7 million [1] - For the full year, revenue totaled $10.551 billion, a 15% decrease from the previous year, with a net loss of $651 million compared to a loss of $12,300 in the prior year [1] Production and Shipment Insights - Q4 alumina production decreased by 1% quarter-over-quarter to 2.79 million tons, while aluminum production increased by 2% from Q3 to 541,000 tons, a 4.8% year-over-year increase [1] - Third-party alumina shipments fell by 5% quarter-over-quarter due to reduced trading volumes, while aluminum shipments grew by 1% [1] Future Outlook - For 2024, the company expects alumina production to be between 9.8 million and 10 million tons, with alumina shipments projected between 12.7 million and 12.9 million tons [1] - The aluminum segment anticipates production of 2.2 million to 2.3 million tons, an increase from 2023, with shipments expected to remain consistent at 2.5 million to 2.6 million tons [1] - The company forecasts a negative impact of approximately $15 million on Q1 2024 adjusted EBITDA for the alumina segment due to increased maintenance costs and reduced shipments from Australia [1] - The aluminum segment's adjusted EBITDA is expected to be offset by lower product premiums and the absence of certain favorable credits from Q4 2023 [1]

Alcoa (AA) came out with a quarterly loss of $0.56 per share versus the Zacks Consensus Estimate of a loss of $0.99. This compares to loss of $0.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.43%. A quarter ago, it was expected that this bauxite, alumina and aluminum products company would post a loss of $1.13 per share when it actually produced a loss of $1.14, delivering a surprise of -0.88%.Over the last four quarter ...

PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA) today reported fourth quarter and full year 2023 results that demonstrate progress on key priorities. Financial Results and Highlights M, except per share amounts 4Q23 3Q23 FY23 FY22 Revenue $2,595 $2,602 $10,551 $12,451 Net loss attributable to Alcoa Corporation $(150) $(168) $(651) $(123) Loss per share attributable to Alcoa Corporation $(0.84) $(0.94) $(3.65) $(0.68) ...

Pre-market futures are down again, dragging all major indices into the red year-to-date. We’re riding three-day losing streaks on the Dow and small-cap Russell 2000, with the S&P 500 and Nasdaq down in two of the past three sessions. The Dow is currently -145 points, the S&P -21, the Nasdaq -104 and the Russell -23 points. These lower levels have held even through a bevy of earnings and economic reports hitting the tape ahead of the opening bell.U.S. Retail Sales for December came in hotter than expected: + ...

Market indices were lower again today (following Friday of last week’s modest drop), although we continue to see relative strength in A.I.-oriented chipmakers like AMD (AMD) and NVIDIA (NVDA) , which were up +8.3% and +3%, respectively. The energy space was by far the worst performer on the session. In total, the Dow slipped -231 points, -0.62%, while the S&P 500 was -0.37%. The Nasdaq outperformed the field but still came in -0.19%, while the small-cap Russell 2000 bottomed out again, -1.26% for the day.Fo ...

Alcoa Corporation (AA) is likely to register a decrease in the top line from last year’s quarterly reading when it reports fourth-quarter 2023 earnings on Jan 17, after market close. The Zacks Consensus Estimate for revenues is pegged at $2,613 million, reflecting a decline of 1.9% from the prior year’s quarterly reported figure.The bottom line of this leading producer of bauxite, alumina and aluminum products is expected to decline from the earlier year’s quarterly figure. Over the past 30 days, the consen ...

The shares of aluminum stock Alcoa Corp (NYSE:AA) are sliding today, after UBS initiated coverage with a "sell" rating and $29 price target, though BMO threw in a price-target hike to $30 from $28. This attention comes ahead of the company's fourth-quarter earnings report, due out after the close tomorrow, Jan. 17. At last glance, AA was down 3.8% at $28.88, and crossing below the $30 level, which provided support since mid December. The stock's 50-day moving average appears to be containing today's pullbac ...

Investors are always looking for stocks that are poised to beat at earnings season and Alcoa Corporation (AA) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Alcoa is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicat ...