Alcoa Corporation (NYSE:AA) producer of bauxite, alumina, and aluminum products, is reporting second quarter earnings results on Wednesday 15th July 2020, after market close.
The consensus estimates from Thomson Reuters are loss of $ 0.45 per share.
For the full year, analysts predict revenues of $ 9179.33 million, while looking forward to loss of $ 1.22 per share.
Previous Quarter Performance
Alcoa Corporation unveiled loss for the first quarter of $ 0.23 per share, from the revenue of $ 2,381.00 million. The quarterly revenues dropped 12.43 percent compared with the same quarter last year. According to street consensus, AA was expected to report 1Q20 loss of $ 0.24 per share from revenue of $ 2349.95 million. The bottom line results beat street analysts by $ 0.01 or 4.17 percent, at the same time, top line results outshined analysts by $ 31.05 million or 1.32 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of AA was $ 12.61, representing a 144.38 % increase from the 52 week low of $ 5.16 and a 48.8 % decrease over the 52 week high of $ 24.63.
The company has a market capital of $ 2.34 billion and is part of the Basic Materials sector and Aluminum industry.
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Recent Analyst recommendations
On 16th June 2020, maintained by Citigroup at Neutral rating, with $ 12.00 target price.
On 16th June 2020, downgraded by Deutsche Bank to Hold from Buy rating
On 26th May 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 8.50 target price.
Conference Call
Alcoa Corporation will be hosting a conference call at 5:00 PM eastern time on 15th July 2020, to discuss its 2Q20 financial results with the investment community. The participants may dial, +1 (877) 883-0383 or +1 (412) 902-6506 Outside U.S., and the passcode is 8582418 in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website www.alcoa.com
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
