Alcoa Corp

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Other Pre-Announcement

Alcoa Corporation Reports Third Quarter 2020 ResultsStrong Operating And Safety Performance With Continued Stability Executing Well On Strategic Actions And Initiatives, Enhancing Liquidity

Published: 10/14/2020 22:30 GMT
Alcoa Corp (AA) - Oration Reports Third Quarter 2020 Results:strong Operating and Safety Performance With Continued Stability Executing Well on Strategic Actions and Initiatives, Enhancing Liquidity.
Q3 Revenue $2.4 Billion Versus Refinitiv Ibes Estimate of $2.23 Billion.
Q3 Adjusted Loss per Share $1.17 Excluding Items.
Q3 Loss per Share $0.26.
Q3 Earnings per Share Estimate $-1.38 -- Refinitiv Ibes Data (analyst estimates).
On Pace to Deliver Approximately $900 Million in Combined Cash Actions in 2020.
All Production Sites Remain Fully Operational.
Alcoa Ended Quarter With Cash on Hand of $1.74 Billion, Which Included $736 Million in Net Proceeds From a July 2020 Debt Issuance.
Qtrly Alumina Production 3,435 Kmt Versus 3,380 Kmt.
2020 Shipment Outlook for Bauxite and Aluminum Remains Unchanged.
Expects 2020 Shipment Outlook for Alumina to Improve by 0.2 Million Metric Tons to Between 13.8 to 13.9 Million Metric Tons.
2020 Aluminum Shipments Are Expected to Be Between 2.9 and 3.0 Million Metric Tons.
In Q4 in Aluminum Segment, Company Expects a Sequential Decline With Anticipated Higher Power Costs in Europe.