From NASDAQ.: 2024-04-18 11:42:00

Alcoa Corporation (NYSE: AA) reported a net loss in Q1 2024 due to challenges in the materials and aluminum sectors. Revenue was $2.59 billion, with a net loss of $252 million. Free cash flow was $324 million, while net debt stood at $1.242 billion. Alcoa is implementing strategic initiatives amidst a market with price volatility and supply chain constraints.

Alcoa paid a dividend of $0.10 per share in Q1 2024 and plans to acquire Alumina Limited. The company’s alumina segment outperformed the aluminum segment, indicating strong performance in Q1. Operational adjustments and cost efficiency measures are ongoing to improve profitability. Environmental sustainability is a key focus in the industry, influencing future investments and strategies.

Management at Alcoa is focused on increasing production in core businesses, with a commitment to improving cost competitiveness. The company anticipates challenging market conditions for the rest of 2024 and is implementing strategies to enhance profitability. Alcoa’s Q1 2024 report reflects market volatility and uncertainty, with operational adjustments and growth strategies in place to navigate industry challenges.



Read more at NASDAQ.:: Alcoa Posts Q1 Loss as Aluminum Market Volatility Persists