Alcoa Beats Q3 EPS Expectations, Rides Alumina Price Surge Despite Production Hiccups
Portfolio Pulse from Lekha Gupta
Alcoa Corporation (NYSE:AA) reported a mixed Q3 with EPS beating expectations but sales missing consensus. Despite production hiccups, alumina prices surged, boosting adjusted EBITDA. Alcoa's shares rose 5.18% premarket. The company maintains its 2024 alumina production forecast and announced strategic partnerships.
October 17, 2024 | 10:50 am
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POSITIVE IMPACT
Alcoa's Q3 results showed a strong EPS beat, driven by higher alumina prices and lower costs, despite a sales miss. The company announced strategic partnerships and maintained its production forecasts.
Alcoa's strong EPS beat and strategic partnerships are positive indicators for the company's short-term performance. The rise in alumina prices and maintained production forecasts further support a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:PWER) provides exposure to Alcoa, which reported strong Q3 EPS results and strategic partnerships.
PWER's exposure to Alcoa's positive Q3 results and strategic moves could benefit the ETF's performance, making it a potentially attractive option for investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
SPDR S&P Metals & Mining ETF (NYSE:XME) includes Alcoa, which reported a strong Q3 EPS beat and strategic partnerships, potentially benefiting the ETF.
XME's inclusion of Alcoa, which reported strong Q3 results and strategic partnerships, could positively impact the ETF's performance, making it appealing to investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50