Alcoa (AA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Alcoa (AA) reported revenue of $2.6 billion, down 8.7% over the same period last year. EPS came in at -$1.14, compared to -$0.33 in the year-ago quarter.
The reported revenue represents a surprise of +0.42% over the Zacks Consensus Estimate of $2.59 billion. With the consensus EPS estimate being -$1.13, the EPS surprise was -0.89%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average realized third-party price per metric ton of alumina: $354 compared to the $335.27 average estimate based on two analysts.
Average realized third-party price per metric ton of aluminum: $2,647 versus the two-analyst average estimate of $2,694.79.
Third-party alumina shipments in Tons: 2,374 Kmt versus 2,266.81 Kmt estimated by two analysts on average.
Third-party aluminum shipments in Tons: 630 Kmt versus the two-analyst average estimate of 649.11 Kmt.
Total sales- Alumina: $1.34 billion versus $1.17 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7% change.
Total sales- Aluminum: $1.65 billion compared to the $1.70 billion average estimate based on two analysts. The reported number represents a change of -17% year over year.
Third-party sales- Bauxite: $111 million versus $98.40 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +88.1% change.
Third-party sales- Alumina: $846 million versus the two-analyst average estimate of $768.36 million. The reported number represents a year-over-year change of +1.7%.
Intersegment sales- Aluminum: $4 million versus $4.50 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -60% change.
Total Third-party sales: $2.60 billion compared to the $2.62 billion average estimate based on two analysts. The reported number represents a change of -9.2% year over year.
Intersegment sales- Alumina: $381 million versus the two-analyst average estimate of $357.20 million. The reported number represents a year-over-year change of -8.9%.
Third-party sales- Aluminum: $1.64 billion versus the two-analyst average estimate of $1.75 billion. The reported number represents a year-over-year change of -16.8%.
View all Key Company Metrics for Alcoa here>>>
Shares of Alcoa have returned -2% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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