Alcoa Corp. (NASDAQ:AA) released its third-quarter earnings report after Wednesday's closing bell. Here's a look at the key figures from the quarter.
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The Details: Alcoa reported quarterly losses of two cents per share, which missed the analyst estimate for earnings of one cent.
Quarterly revenue of $2.99 billion came in below the Street estimate of $3.13 billion.
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Production: Alumina production increased 4% sequentially to 2.5 million metric tons. In the Aluminum segment, production increased 1% sequentially to 579,000 metric tons.
Shipments: In the Alumina segment, third-party shipments of alumina were flat sequentially at 2.2 million metric tons. In Aluminum, total shipments decreased 3% sequentially.
Revenue: The company’s total third-party revenue of $3 billion decreased 1% sequentially. In the Alumina segment, third-party revenue decreased 9%. In the Aluminum segment, third-party revenue increased 4%.
“During the third quarter, we continued to deliver on operational stability and the optimization of our portfolio,” said CEO William F. Oplinger.
“Looking ahead to the fourth quarter, we will focus on safety, stability and continuous improvement to increase overall profitability, while we progress Australia mine approvals,” Oplinger added.
AA Stock Price: According to data from Benzinga Pro, Alcoa stock was down 1.77% at $35.02 in Wednesday's extended trading.
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