Alcoa (AA) Misses Q3 EPS by 52c

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Go back to Alcoa (AA) Misses Q3 EPS by 52c

Alcoa Corporation Reports Third Quarter 2022 Results

October 19, 2022 4:16 PM EDT

PITTSBURGH--(BUSINESS WIRE)-- Alcoa Corporation (NYSE: AA) today reported third quarter 2022 financial results that reflect lower sequential average realized prices for alumina and aluminum, coupled with higher costs for energy and key raw materials.

Third Quarter Highlights

Revenue of $2.85 billion Recorded a quarterly net loss of $746 million and loss per share of $4.17, which includes $652 million of restructuring charges related primarily to pension actions Completed a $1 billion pension annuity transaction, the fifth such transaction since 2018, for a total transfer of approximately $3.3 billion of prior... More