Alcoa stocks climb as Q4 revenue beats analyst forecasts
VANCOUVER (miningweekly.com) – The NYSE-listed stock of base metals producer Alcoa gained nearly 6% on Tuesday after the company reported higher-than-expected fourth-quarter revenue.
In its first quarterly report since spinning out its upstream and downstream business segments in November, New York-based Alcoa reported adjusted earnings, that typically exclude special one-off items, of $26-million, or $0.14 a share. Shares had risen 42% since US President Donald Trump was elected on November 8.
The company reported a net loss of $125-million, or $0.68 a share, owing to costs to streamline the portfolio.
Revenue came in at $2.5-billion, up 9% sequentially, the company reported, and slightly higher than Wall Street analyst forecasts, reflecting higher volume in the company’s rolled products business, and higher alumina pricing.
Adjusted earnings before interest, taxes, depreciation and amortisation, excluding special items of $335-million, were up 18% sequentially at $335-million on rising alumina pricing.
“Rising alumina and aluminium prices improved the bottom line, our alumina segment had exceptional profit growth in a stronger market environment and doubled margins, while our bauxite business also increased profits and reported robust margins. In addition, we continued to streamline our portfolio and generated cash to strengthen the balance sheet,” Alcoa CEO Roy Harvey stated.
Alcoa had $853-million cash in the bank at December 31, and $1.4-billion debt, for net debt of $600-million.
The company, which produces aluminium, alumina and bauxite, said it expected 4% growth in global aluminium demand in 2017. It expected bauxite and alumina markets to be relatively balanced in 2017 and a modest global aluminium surplus of 400 000 t to 800 000 t.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
