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Alcoa (NYSE:AA) +2.7% post-market Wednesday after disclosing preliminary Q2 results showing sequential increases in revenue, net income, adjusted net income and adjusted EBITDA, helped by higher alumina and aluminum prices.
Alcoa (AA) said it expects to report Q2 adjusted earnings of $0.08-$0.19/share, beating $0.07 analyst consensus estimate, on revenues of $2.85B-$2.925B, topping $2.83B consensus, while also guiding for Q2 adjusted EBITDA of $310M-$330M.
The company said it expects Q2 alumina production will decrease ~5% Q/Q primarily due to the full curtailment of the Kwinana refinery completed in June 2024, while aluminum production in the quarter should be consistent with Q1’s strong output.
In the Alumina segment, third-party shipments of alumina are expected to come in ~5% lower Q/Q primarily due to the full curtailment of the Kwinana refinery; in Aluminum, total shipments are seen rising by ~7% Q/Q mostly because of the timing of shipments and the restart of one potline at Warrick Operations in Q1.
Alcoa (AA) will announce its actual Q2 results on July 17.