Alcoa (AA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Alcoa reported revenue of $2.91 billion for the quarter ended June 2024, reflecting an 8.3% increase year-over-year, with EPS at $0.16 compared to -$0.35 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $2.96 billion by 1.92%, while the EPS exceeded expectations by 45.45% [1] Financial Performance Metrics - Average realized third-party price per metric ton of alumina was $399, surpassing the average estimate of $383.76 [2] - Average realized third-party price per metric ton of aluminum was $2,858, below the average estimate of $2,999.99 [2] - Third-party alumina shipments totaled 2,267 Kmt, slightly above the estimated 2,245.65 Kmt [2] - Third-party aluminum shipments reached 677 Kmt, exceeding the estimate of 653.99 Kmt [2] - Total sales for alumina were $1.47 billion, above the estimated $1.39 billion, marking a 13.6% increase year-over-year [2] - Total sales for aluminum were $1.90 billion, slightly below the estimated $1.98 billion, with a year-over-year increase of 5.9% [2] - Third-party sales of bauxite were $96 million, below the estimate of $110.07 million, representing a 15% decrease year-over-year [2] - Third-party sales of alumina were $914 million, exceeding the estimate of $875.72 million, with a 2.2% year-over-year increase [2] - Intersegment sales of aluminum were $3 million, below the estimate of $4.50 million, reflecting a 25% year-over-year decrease [2] - Total third-party sales were $2.91 billion, below the average estimate of $2.96 billion, with an 8.3% year-over-year increase [2] - Intersegment sales of alumina were $457 million, above the estimate of $400.09 million [2] - Third-party sales of aluminum were $1.90 billion, below the average estimate of $1.97 billion, with a 6% year-over-year increase [2] Stock Performance - Alcoa shares have returned +3.1% over the past month, compared to the S&P 500 composite's +4.4% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]