Alcoa Shares Gain After Mixed Q1 Results: EPS Beat, Revenues Miss

Alcoa Corp. AA released its first-quarter results after Wednesday's closing bell. Here's a look at the key figures from the quarter.

The Details: Alcoa reported quarterly earnings of $2.15 per share, which beat the analyst consensus estimate of $1.70. Quarterly revenue came in at $3.37 billion, which missed the analyst consensus estimate of $3.53 billion and is an increase over revenue of $2.6 billion from the same period last year.

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• Production: Alumina production decreased 1% sequentially to 2.35 million metric tons. In the aluminum segment, production decreased 1 percent sequentially to 564,000 metric tons.
  
• Shipments: In the alumina segment, third-party shipments of alumina decreased 8% sequentially. In aluminum, total shipments decreased 5% sequentially.
  
• Revenue: In the alumina segment, third-party revenue decreased 8%. In the aluminum segment, third-party revenue was flat.

“During the first quarter, we maintained our pace of delivering on key operational and capital allocation objectives, including forming the joint venture to support our San Ciprián operations and repositioning debt in Australia,” said Alcoa CEO William F. Oplinger.

“A positive aluminum market led to stronger results for the first quarter, while we continued to focus on safety, stability, and operational excellence amidst economic uncertainty,” Oplinger added.

AA Price Action: According to data from Benzinga Pro, Alcoa shares were up 0.92% after hours at $25.30 on Wednesday.  

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Photo Courtesy of Alcoa Corp.