Alcoa's Q3 Earnings: Alumina Shipment Jumps 11%, Stock Inches Higher

Alcoa Corporation AA shares are trading higher in Wednesday's after-hours session on the heels of the third-quarter earnings.

What To Know: Alcoa reported quarterly losses of $1.14 per share, which missed the analyst consensus estimate of losses of $1.13, compared to losses of 33 cents per share from the same period last year. 

The company reported quarterly sales of $2.60 billion, which marginally beat the analyst consensus estimate of $2.59 billion, an 8.73% decrease over sales of $2.85 billion in the same period last year.

The company also increased third-party shipments of alumina by 11% and aluminum by 1% sequentially.

"We are already beginning to see progress with better, year-on-year safety results, as well as production records from our smelters in Quebec," said Alcoa President and CEO William F. Oplinger. 

"And we will build on that momentum across our business as we progress, to remain well positioned to deliver today and in the future."

Based on current alumina and aluminum market conditions, Alcoa expects fourth-quarter operational tax expense to approximate $10 million to $20 million, which may vary with market conditions and jurisdictional profitability.

Related Link: Las Vegas Sands Stock Gains Following Q3 Earnings Beat - Here's A Look

AA Price Action: Shares of Alcoa were up 1.06% at $26.80 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by nettetal10 from Pixabay