Alcoa Q2 Adj EPS $(0.35) Beats $(0.47) Estimate, Sales $2.68B Miss $2.70B Estimate
Portfolio Pulse from Benzinga Newsdesk
Alcoa (NYSE:AA) reported Q2 losses of $(0.35) per share, beating the analyst consensus estimate of $(0.47) by 25.53 percent. However, the company's quarterly sales of $2.68 billion missed the analyst consensus estimate of $2.70 billion by 0.59 percent. This represents a 26.34 percent decrease over sales from the same period last year.
July 19, 2023 | 8:12 pm
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Alcoa's Q2 earnings beat estimates but sales missed, indicating mixed financial performance.
Alcoa's earnings beat estimates, which is positive for the stock. However, the missed sales estimate and the significant decrease in sales YoY could negatively impact the stock. The net effect could be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100