Alcoa Earnings: Everything You Must Know Now
Alcoa, Inc. (NYSE:AA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.76%.
Alcoa, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 16.67% to $0.07 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 1.91% to $5.85 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alcoa, Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $5.83 billion.
Quoting Management: “Our businesses showed remarkable operating performance in the quarter with solid free cash flow,” said Klaus Kleinfeld, Alcoa Chairman and CEO. “In our value-add businesses we reached another milestone with record profitability in our downstream business while acting decisively to defy the headwinds of falling metal prices in our upstream businesses. We improved our competitive position by actively restructuring, curtailing, and closing facilities and made progress addressing legacy legal issues.”