Alcoa Q2 EPS Misses Estimates, Stock Falls Despite Record Revenue
AA sits 62% above its 52-week low of $28.11.
Summary
Alcoa reported Q2 adjusted EPS of $2.12, missing the $2.55 consensus, and EBITDA of $901M vs. $943M expected, despite record revenue of $3.97B. The stock fell 3.6% in regular trading and another 2.3% after hours, extending a 12% YTD decline. The miss comes amid higher aluminum prices and follows the $4.1B South32 acquisition announced June 30, which has weighed on shares due to dilution and integration risks. The earnings shortfall, combined with the negative market reaction, signals near-term pressure on the stock.
At the time of this announcement, AA was trading at $45.42 on NYSE in the Manufacturing sector, with a market capitalization of approximately $12.4B. The 52-week trading range was $28.11 to $84.38. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.