Alcoa reports preliminary Q2 net income $5-$25M vs Q1 loss $252M; EBITDA $310-$330M

Alcoa Corp

2024-Q2 EPS reported -$1.29 revenue$5,505,000,000

Revenue expected $2,850-$2,925M, up from $2,599M in Q1 2024, on higher alumina and aluminum prices.
Adjusted net income $15-$35M ($0.08-$0.19 per share) vs Q1 adjusted loss of $145M ($0.81 loss per share).
Alumina segment EBITDA $180-$190M; Aluminum segment EBITDA $230-$240M, both sequentially higher.
Cash balance ~$1.4B at June 30; acquisition of Alumina Limited on track to close on or about August 1, 2024.
Kwinana refinery fully curtailed in June 2024; San Ciprián funding expected exhausted by end of 2024.

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