alcoa first quarter earnings

Hi, Timna, Ill take this one. It is infinitely recyclable, and its available, right? Thats good, but we need to do better, and we need to accelerate, and we need to make sure that were also rehabilitating very quickly, particularly in sensitive areas that obviously are these places where we need to always be rehabilitating as quickly as we possibly can. The other was surprise we had at Alumar is that as we got started with those pots that a lot of them have been relined but others have not been relined. A link to the press release will also be on Alcoa's . Wednesday, July 20, 2022: 5:00 p.m.6:00 p.m. EDT, Roy Harvey, President and Chief Executive Officer, William Oplinger, Executive Vice President and Chief Financial Officer. Does that constrain your ability to operate in any way and develop new mine plans? So, a great legacy of stuff that weve been able to do. Looking from fourth quarter 22 to first quarter 23 on a comparable basis, the Alumina segment adjusted EBITDA more than doubled on stronger API pricing and product mix, partially offset by higher costs, both production and raw materials. Thanks. As many aluminum customers self sanction against Russian metal, unwanted Russian tons are being stockpiled in London Metal Exchange warehouses and are threatening to undermine the reliability of the LME as a global pricing reference for aluminum. I think theyll tend to be connected. Meanwhile, the regional markets in the rest of the world are in a slight surplus for both alumina and aluminum. To access the replay using an international dial-in number, please select this link: And because it takes time to actually permit and then construct those new wind farms, it means a lot of that capacity is going to be pointed more towards 2025 rather than 2024. So again, not a huge volume there, were 25% down, but thats one provision on the aluminum. Finally, I want to highlight the news about our Sustana family of low-carbon products comprised of EcoSource alumina, EcoLum aluminum and EcoDura aluminum with recycled content. Production was down 4% sequentially or 135,000 tons due primarily to a shorter quarter in terms of production days, the ramp down of Point Comfort and the residual impact of the fourth quarter Pinjarra power outage. If you have an ad-blocker enabled you may be blocked from proceeding. PITTSBURGH--(BUSINESS WIRE)-- And maybe shifting gears to San Ciprin, and I wanted to talk about the refinery there. Alumar also includes a co-located alumina refinery. This site is protected by reCAPTCHA and the Google And we will keep you updated as soon as we hear -- as soon as we continue to hear whats happening next. Im joined today by Roy Harvey, Alcoa Corporation President and Chief Executive Officer; and Molly Beerman, Executive Vice President and Chief Financial Officer. So I can see how that might not move the needle. At Alcoa, we all work together to turn raw potential into real progress. We expect this trend to continue with more customers committing to aggressive decarbonization targets. Good night, everyone. +1 (412) 317-0088 (International) That will be my first question. Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back 135 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Please disable your ad-blocker and refresh. So, we have a commitment to get started in 2024 by January 1st. At our Kwinana refinery, we made the decision to keep 1 of 5 digesters curtailed. Alcoa Schedules Second Quarter 2023 Earnings Release and Conference Call. And something like a $0.03 or $0.05 fall in the Aluminum metal segment, which I guess, benefit more from pitch and tar and energy? First Quarter Highlights Net income increased sequentially to $469 million, or $2.49 per share The third-party referral will likely result in further delays with bauxite grade impact expected to continue until at least the first quarter of 2024. On value-added premiums, when we look at it year-on-year, we continue to see strength. In the first quarter, we saw sequential improvement across our key earnings metrics. This is the first quarter the Bauxite and Alumina segments have been combined into the Alumina segment. A conference call to discuss the financial results will begin at 5:00 p.m. EST, and will be webcast live via Alcoa's website. So when we look out these next quarters, were going to continue to see raw materials relief. Let me answer Western Australia and then Ill let Molly answer the energy question. [email protected]. Understood. So that is going to be supportive, but theres also just not enough metal. They really run that refinery really well. 412-315-2909 Please. In the Alumina segment, we expect an approximately $55 million unfavorable impact from lower bauxite grades in Australia. Alcoa Schedules First Quarter 2022 Earnings Release and Conference Call March 29, 2022 Download PITTSBURGH-- (BUSINESS WIRE)-- Alcoa Corporation plans to announce its first quarter 2022 financial results on Wednesday, April 20, 2022 after the close of trading on the New York Stock Exchange. So, that process will take some time. Its hard to predict exactly. [email protected], Media Contact: Alcoa Corporation AA is scheduled to release first-quarter 2019 results on Apr 17, after the market closes. This complements our existing smelter grade product also marketed under the EcoSource brand. Thank you very much for your color on that. Tages-Trading-Chancen am Freitag den 30.06.2023. The press release with financial results, and a related presentation, will be available on the "Investors" section of Alcoa's website, www.alcoa . The press release with financial results, and a related presentation, will be available on the Investors section of Alcoas website, www.alcoa.com. Trying to put together the different bits and pieces, should we expect something like a $10 a ton cost increase in the Alumina segment in the June quarter? I believe the gas environment for the San Ciprin -- or gas contracts or rather the price of the pot, at what point, given where gas prices are today, is there any consideration to bring back the refining capacity there? The next question comes from Emily Chieng with Goldman Sachs. Cash ended the period at $1.1 billion and proportional adjusted net debt rose to $1.4 billion. Uranaktien noch immer unverschmt gnstig - jetzt einsteigen und entspannt verdienen! Alcoa Corporation (NYSE:AA) Q1 2023 Results Conference Call April 19, 2023 5:00 PM ET, John Tumazos - Tumazos Very Independent Research, Lawson Winder - Bank of America Securities. So, I just want to make sure I understood. Revenue grew by 11% year over year to the highest level since the second quarter of 2001. PDF Alcoa Corporation So, a great turnaround for Lista where weve secured the power through the end of the year. https://www.cnbc.com/video/2 Wurden die Aktien jetzt von den Banken und Hedgefonds nach oben gepusht ,jetzt von den gleichen wieder Amerikanische Brsen Werte auf Sand gebaut keine schlechten Nachrichten und doch minus 11 Prozent Wenn Sie Kursdaten, Widgets oder andere Finanzinformationen bentigen, hilft Ihnen ARIVA gerne. Now, lets turn to our expectations for the year and provide comments on the second quarter. Alcoa Schedules First Quarter 2022 Earnings Release and Conference Call Cost of goods sold as a percentage of sales declined to less than 78%. Youll see some recent aluminum supply changes in the first quarter of this year. Call: +1 (877) 883-0383 (Domestic) +1 (412) 902-6506 (International) Conference ID: 8998726. 412-992-5450 I look forward to talk to you again in July when well share our second quarter results. I would like to turn the conference over to Roy Harvey for closing remarks. These price improvements flow into our inventory valuation and as we previously shared, it can take 1 or 2 quarters before the purchase price improvement starts to flow through COGS and hit the income and cash flow statements. No matter where we operate, we strive to ensure that our employees, contractors and visitors remain safe at our locations. Youre going to need primary metal, and its going to have to come from somewhere. In February, the U.S. government placed a 200% tariff on Russian metal imports. That means consistently working to improve our commercial capabilities to quality, technical excellence and delivery performance. So it is significantly better, but still significantly higher priced than it was prior to the invasion in Ukraine. We saw a broad improvement from the fourth quarter of 2022 to the first quarter of 2023. PITTSBURGH-- (BUSINESS WIRE)-- Alcoa Corporation (NYSE: AA) today reported first quarter 2022 financial results that included quarterly records for net income, adjusted net income and Adjusted EBITDA excluding special items. The remainder came from several items: Lower energy costs in the first quarter 23 and the absence of CO2 costs realized in the fourth quarter of 22, primarily in Norway. The -- so we didnt specifically mention the third party, but its a local NGO. Alcoa sees output costs easing as aluminium demand stays steady We also know the world is evolving, and we are committed to continually improving our practices and meeting modernized expectations. And I am convinced and enthusiastic about the long term because were seeing real expectations on where the new demand sources are going to come in when you look at electric vehicles, you look at the renewable energy and the need for aluminum as part of the infrastructure, and there just isnt enough new capacity coming on line in order to be able to answer that aluminum demand or realistically to be able to answer that alumina demand either. And I can promise you that running a refinery at 50% is never the ideal point. I think that starts to build a little bit more resilience back into the market, which then has its knock on impacts in our value-added products. Alcoa Schedules Second Quarter 2023 Earnings Release and - Benzinga Q2 2021 Financial Results: Alcoa Corporation Sets Record for Highest Starke Zahlen gegen Zinssorgen: Diese Nasdaq-Picks knnten jetzt spannend sein, The webcast will also be archived on the Events & Presentations portion of the Investors section of. I would. Then next question comes from Lawson Winder with Bank of America Securities. Please go ahead. Notably, we increased our adjusted EBITDA from the fourth quarter by more than $211 million, posting a result of $240 million. And the other category was favorable due to the non-recurrence of the Alumar ARO adjustment made last quarter and lower spending outside the segments, especially in transformation. The press release with financial . Alcoa Earnings, Q1 2016 - Business Insider Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. Ihr Wallstreet-Marktupdate: Alles fr den US-Brsenstart Jetzt anmelden! Foundry, slab and rod markets remained strong, while billet demand is soft in Europe and North America. To avoid a delay in start time, please dial in beginning at 4:45 p.m. A telephone replay will be available at approximately 8:00 p.m. EDT on July 20 until July 27, 2022. Crashgefahr steigt: "Buffett-Indikator" erreicht fast 110 Prozent, A Never Ending Love Story: Bei dieser Aktie hat Warren Buffett erneut nachgelegt, Diese Cathie Wood-Aktie schlgt sogar Tesla. As noted, we continue to work with relevant government bodies to support these annual approvals processes. Thus, we continue to advocate with our government for full sanctions on Russian origin aluminum. We are seeing considerable recent improvement in caustic prices as well as more gradual improvements in quoted prices for coke and pitch. To access the replay using an international dial-in number, please select this link: https://services.choruscall.com/ccforms/replay.html, The webcast will also be archived on the Events & Presentations portion of the Investors section of www.alcoa.com at this link: https:/investors.alcoa.com/events-and-presentations/. They happen to be aligned with the same thing that were discussing with our regulators. AMEX +20 Min. We look at history and it tells us that there is a real arbitrage that people play when it comes to copper and aluminum. Now, lets turn to other financial metrics and cash flow. Today, about 75% of all areas we have cleared for mining have been rehabilitated and are at different growth stages from early plantings to developed forest. And it matters for society, as the world will need more responsibly produced aluminum in the future. The concerns that they have are really -- I did mention what the concerns were, protecting the water quality. Alcoa (AA) to Report Q1 Earnings: Is a Beat in the Store? If you experience any issues with this process, please contact us for further assistance. Sort of what happens next? Its more, I guess, logistical and operational in nature. Alcoa Corporation - 1st Quarter 2021 Earnings Presentation & Conference That compares to approximately 5% of the total prior to the invasion of Ukraine. We know how to solve problems. In China, however, there are slight deficits for both products. Yes. For the long term, we continue to believe that aluminum demand will rise significantly, driven by global decarbonization strategies. I know there were a lot of questions what that might do to demand. We constantly remind ourselves of the importance of our actions, whether in operations, in our offices or as we make corporate decisions. PITTSBURGH-- (BUSINESS WIRE)-- Alcoa Corporation (NYSE: AA) today reported its highest quarterly net income and earnings per share, eclipsing the prior quarter's record-setting financial performance and continuing to capture benefits from strong aluminum pricing. The progress we make as a company matters. A telephone replay of the call will be available at approximately 8:00 p.m. EDT on July 19, 2023 until July 26, 2023. That said, should these raw material price trends continue, we expect to be rewarded with lower inventory valuations, lower COGS related to raw materials and improved cash flow. First question is your observations on rest of world capacity and the lack of restarts, even though energy power prices have corrected downwards somewhat, is the demand outlook and the energy outlook and uncertainty given geopolitics, even if prices stay low, still make it more difficult for capacity restarts in the marketing in your view? Alcoa Earnings Date and Forecast 2023 (NYSE:AA) - MarketBeat Roy, I also have a higher level question to kick things off. So it means that refining in Europe, and we see this in our San Ciprin refinery, its why were running at 50% is really difficult and is either extremely thinly margined or more likely a loss maker. So Lawson, our fourth quarter is always the heaviest CapEx period, and were still looking at $485 million for sustaining and $115 million for our return seeking. Thats why weve been so focused on building an even stronger company and not sacrificing the work that were doing on our breakthrough technologies, and we intend to remain resilient and ready and running forward. Alcoa Corporation plans to announce its fourth quarter and full year 2021 financial results on Wednesday, January 19, 2022, after the close of trading on the New York Stock Exchange. Is this happening to you frequently? As part of our agreement with the workforce, we are also moving forward with capital projects that will help support this restart and the future competitiveness of this facility. And Molly, Ill turn it over to you for energy. So, Ill take that one and Molly can jump in if she has some quantitative comments as well. PITTSBURGH--(BUSINESS WIRE)-- Notably, the company's earnings beat estimates in each of the last four quarters, the. Learn how it impacts everything we do, https://services.choruscall.com/ccforms/replay.html, https:/investors.alcoa.com/events-and-presentations/, https://www.businesswire.com/news/home/20230626691683/en/, Do Not Sell or Share My Personal Information, The webcast will also be archived on the Events & Presentations portion of the Investors section of. First, we saw improvement in our key earnings metrics during the first quarter. But were also seeing a little bit of weakness on the billet side, particularly thats really coming in from building and construction, which just isnt moving as quickly as what weve seen in some other times. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Yes. Okay. If you experience any issues with this process, please contact us for further assistance. Copyright 2023 Morningstar, Inc. All rights reserved. These repairs were important in time-sensitive activities and the teams did a great job completing them safely and swiftly. Finally, on this slide, lets discuss Australia. Go to the Investors section of the Alcoa website to listen only and view presentation slides. But for right now, the $55 million is applying for our future look, and that includes about $10 million impact of volume and about $45 million for caustic, bauxite and energy usages unfavorable at this bauxite grade. And so, theres a certain amount of learning that were going to be doing as we go. And lots of great detail throughout this call. As copper prices start to jack up, I think were also seeing some positives in the aluminum price as well. And once again, thanks for your time today. Maybe the other refinery is a small impact, but I just want to make sure I understood fully that maybe they were smaller, or maybe youre expecting some improvement as the year progresses to keep volumes the same. Thats been part of the aluminum industry for the 25 years that have been here. Youve got the potential for some growth happening in Southeast Asia and the Middle East, for example, but outside of that, theres just not a lot of projects. And I think thats an area weve got a breakthrough technology that were working on with recycling to be able to better manage post-consumer scrap. Please go ahead. There have already been curtailments of approximately 1 million metric tons in 2 key regions, and the restart of curtailed capacity in Yunnan is heavily dependent on hydroelectricity, which is seeing supply shortages. Adjusted EBITDA, excluding special items, also improved considerably, increasing from $29 million to $240 million. And then assuming that its valid, then going into deciding whether, in fact, it should be assessed, i.e., should there be another process to determine what are the environmental -- what are the current and then medium and long-term environmental impacts of that specific project. Alcoa's First-Quarter Earnings Surpass Estimates - The New York Times Given the significance of raw materials and the value of our inventory, they are a key driver of both, profitability and cash flows. And though this is her first formal presentation of our quarterly financial results, shes no stranger to the process. Jim Beck Alcoa Schedules First Quarter Earnings Release and Conference Call Operator, who do we have in the line for our first question today? The company's earnings beat estimates in each of the last four quarters, the earnings. Russia inventory at LME to the tune of 53% is a big alarm for Aluminium prices forecast. Thank you for attending todays presentation. On the alumina side, its not necessarily a different perspective, right? I just have a quick follow-up on WA. Alcoa Corporation plans to announce its second quarter 2023 financial results on Wednesday, July 19, after the close of trading on the New York Stock Exchange. And faced with a volatile market environment as well as continued challenges at some of our operations, we continue to focus on three strategic priorities: First, we work to reduce complexity, which means operating with a lean cost-focused approach and actively managing our portfolio of assets to drive profitability through all phases of the commodity cycle. The other piece, of course, that they ask about is around biodiversity, and how we are rehabilitating in the Jarrah Forest. We can certainly do that. But whats embedded in your assumptions? encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. First Quarter Highlights: Generated revenue of $2.7 billion United States of America, Alcoa Schedules Fourth Quarter and Full Year 2021 Earnings Release and Conference Call, https:/investors.alcoa.com/events-and-presentations/. We have restored stability at this site, which had experienced challenges related to the production of rodded anodes. These EcoSource products are unique across our industry and are unmatched by our competitors. Alcoa reported first-quarter profits that topped analysts' expectations after the closing bell on Monday. The Zacks Consensus Estimate for Alumina and Aluminum segment's revenues for the first quarter is currently pegged at $1,060 million and $1,795 million, respectively, indicating 13.5% and 6.2%. Income from continuing operations grew by 79% over the prior year period, and earnings in . But at some point, the only thing left in LME warehouses will be metal that is only consumed by a small group of non-western producers. Two quick questions for me. James Dwyer We just thought it was a little surprising given some of the disruptions. We do have everything secured now, except one small piece in Norway. In March, the Portland aluminum joint venture reduced its production to approximately 75% of its total annual capacity. Theres just not a lot of new production thats going to come online. The company is scheduled to release first-quarter 2023 results on Apr 27. Third Quarter Highlights Alumina Limited (ASX: AWC) notes Alcoa Corp's (' Alcoa ') quarterly earnings release.. Information on the AWAC joint venture and Alumina Limited plus other market data is attached, along with a copy of the Alcoa 1Q Earnings Presentation. And so to me, 53%, like I tried to be very clear in my remarks is already a point of significant warning that very quickly were going to get to a point where theres the aluminum metal price LME thats based off these inventories is going to be based off metal that nobody wants. Replay Access Code: 6008876 or in the Events section of our website. And then, if I could sneak in another one on the energy exposure side, getting a lot of questions about benefits to lower prices, but I believe youre pretty well secured for the year. I think the key here in Western Australia is that were still in the midst of discussions with our -- with the Western Australian government. First Quarter 2021 Earnings Presentation and Conference Call Thursday, April 15, 2021, 5:00 PM Eastern . A link to the press release will also be on Alcoas Twitter handle @Alcoa at www.twitter.com/Alcoa. Is Alcoa Stock A Buy Before Upcoming Earnings? Watch Market But first, Id like to reiterate once again our continuing commitment to Alcoas values and particularly, to safety. INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Carvana Co. and Encourages dynaCERT Announces Voting Results from Annual & Special Meeting of Shareholders, Carlyle and Stellex Complete Sale of Titan to an Affiliate of Lone Star Funds. AOS - Free Report) has an Earnings ESP of +5.78% and a Zacks Rank #2. But when we started out this time last year, there was about 5% of inventories that were rushing. Call: And with that, Molly and I are ready to accept your questions. So, all that to say its -- those are really the two issues that theyve really made questions about. However, we believe there is more that can be done. Transcript of Alcoa Inc. 1st quarter 2004 earnings call - SEC.gov Based on recent pricing, the Company expects second quarter 23 operational tax expense to approximate $30 million to $40 million. And our third priority is to advance sustainably, which means more than just championing environmental, social and governance processes. As we outlined in our presentation today, were making progress every day in accordance with our purpose, vision and values. And in fact, the two prices tend to be pretty closely connected through time, although you do see some variations in that. Sustainability has been core to our focus at Alcoa, and its one overriding priority that helps differentiate our company. "Angeblicher Bullenmarkt wird weder", Die neusten Bergbau-Nachrichten im SRC Newsletter 15-2023. We simply -- as we started them, we just didnt get the ability to keep them operating for as long as we had expected. To access the replay using an international dial-in number, please select this link: https://services.choruscall.com/ccforms/replay.html. This is a complex and evolving situation, and we are fully committed to reaching a collaborative agreement with the Western Australia government to protect the environment, meet stakeholder expectations and maintain the vital economic benefits that our operations provide. Investor Contact: We have already seen some increased volumes and new contracts as customers continue to look for alternatives to Russian supply of material. I think I would go back to say the state EPA and the referrals process as well as the current discussions around the operating permits is really all managed at the Western Australian level.

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