Why Alcoa Shares Are Trading Lower Today

Alcoa Corp AA shares are trading lower Thursday after the company announced worse-than-expected top-line results. 

Alcoa reported first-quarter revenue of $3.29 billion, which came in below the $3.44 billion estimate, according to data from Benzinga Pro. The company reported quarterly earnings of $3.06 per share, which beat the estimate of $2.97 per share.

Alcoa lowered its expected bauxite shipments in 2022 by 2 million dry metric tons to a range of 46 million to 47 million dry metric tons. The company expects total alumina and aluminum shipments to remain unchanged.

Alcoa expects both alumina and aluminum realized third-party prices to be higher than the first quarter, with that benefit partly offset by approximately $115 million of higher energy and raw materials costs.

See Also: Morning Brief: Top Financial Stories Dominating on Thursday, April 21

AA 52-Week Range: $30.99 - $98.09

The stock was down 9.62% at $78.57 at press time.

Photo: courtesy of Alcoa.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!