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Alcoa Reports Surprise Q3 Loss as Lower Metal Prices Weigh

By Yasin Ebrahim

Investing.com -- Alcoa reported Wednesday a surprise third-quarter loss as higher costs and lower metal prices weighed on performance.

Alcoa Corp (NYSE:AA) fell more than 6% in afterhours following the report.

Alcoa announced a loss per share of $0.33 on revenue of $2.85 billion. Analysts polled by Investing.com anticipated EPS of $0.19 on revenue of $3.01 billion.

The wider loss reflected "lower sequential average realized prices for alumina and aluminum, coupled with higher costs for energy and key raw materials," the company said.

Looking ahead, the company said it expects total aluminum segment shipments to remain unchanged from the prior projection, ranging between 2.5 and 2.6 million metric tons in 2022.

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