Alcoa's Q3 Earnings: Alumina Shipment Jumps 11%, Stock Inches Higher
Portfolio Pulse from Ryan Gustafson
Alcoa Corporation (NYSE:AA) reported Q3 losses of $1.14 per share, missing the analyst consensus estimate of losses of $1.13. However, the company's quarterly sales of $2.60 billion marginally beat the analyst consensus estimate of $2.59 billion. Alcoa also increased third-party shipments of alumina by 11% and aluminum by 1% sequentially. Based on current market conditions, Alcoa expects Q4 operational tax expense to be around $10 million to $20 million.
October 18, 2023 | 9:14 pm
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Alcoa's Q3 earnings missed analyst estimates, but sales beat expectations. The company also reported an increase in alumina and aluminum shipments.
Alcoa's Q3 earnings missed analyst estimates, which could negatively impact the stock. However, the company's sales beat expectations and it reported an increase in alumina and aluminum shipments, which could have a positive impact. Therefore, the overall short-term impact on the stock is neutral.
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IMPORTANCE 80
RELEVANCE 100