Alcoa (AA) Misses Q4 EPS by 9c, Comments on Outlook

Alcoa (NYSE: AA) reported Q4 EPS of ($0.31), $0.09 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.47 billion.

2020 Outlook:

In 2020, the Company projects total bauxite shipments to range between 48.0 and 49.0 million dry metric tons. Total alumina shipments are expected to be between 13.6 and 13.7 million metric tons. The Aluminum segment is expected to ship between 3.0 and 3.1 million metric tons.

In the first quarter of 2020, Alcoa expects lower quarterly results in the Bauxite segment primarily due to lower pricing and seasonally lower volumes. In the Alumina segment, the Company expects benefits from lower costs for raw materials and the announced portfolio decision to be mostly offset by lower volumes and higher operating costs due to seasonal maintenance. In the Aluminum segment, the Company expects performance to be flat, as improvements from lower alumina costs are expected to be offset by higher energy costs, lower rolled products shipments, and unfavorable price and mix.

Based on current alumina and aluminum market conditions, the Company expects an annual operational tax rate ranging from 70 to 80 percent, which will vary with market conditions and jurisdictional profitability.

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

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