Alcoa (AA) Tops Q4 EPS by 4c

Alcoa (NYSE: AA) reported Q4 EPS of $0.66, $0.04 better than the analyst estimate of $0.62. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.35 billion.

2019 Outlook

In 2019, the Company projects total bauxite shipments to range between 47.0 and 48.0 million dry metric tons. Total alumina shipments are expected to be between 13.6 and 13.7 million metric tons with anticipated operational improvements and higher year-on-year production. Aluminum is expected to ship between 2.8 and 2.9 million metric tons, which reflects the expiration of a can sheet tolling agreement in the flat-rolled business. The tolling agreement’s expiration should have a negligible impact on Adjusted EBITDA for the year.

Alcoa anticipates favorable impacts from spot prices for raw materials to be fully offset by higher energy costs in the first quarter, and to be partially offset for the remainder of the year.

Based on current alumina and aluminum market conditions, the Company expects an annual operational tax rate ranging from 45 to 55 percent.

For the first quarter of 2019, Alcoa expects moderate benefits from both improvements in customer-specific alumina pricing and lower alumina costs to the Aluminum segment. These are partially offset by increased maintenance activities.

For earnings history and earnings-related data on Alcoa (AA) click here.

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