Alcoa Q1 net loss $231M, adjusted EBITDA $240M; Intalco closure, San Ciprián restart plans

Alcoa Corp

2023-Q1 EPS reported -$1.30 revenue$2,670,000,000

Revenue $2.7B, flat sequentially; net loss $231M ($1.30/shr) vs $395M loss in Q4 2022.
Adjusted EBITDA ex special items $240M, up $211M sequentially on higher aluminum/alumina prices.
Permanently closing Intalco smelter (Wash.) with $117M charge; San Ciprián restart planned Jan 2024.
Cash balance $1.1B; free cash flow negative $246M; quarterly dividend $0.10/shr maintained.
2023 shipments unchanged: alumina 12.7–12.9M mt, aluminum 2.5–2.6M mt; Q2 alumina EBITDA to fall ~$55M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Alcoa Corp reported first quarter 2023 results: revenue $2,670, net income $(231), EPS $(1.30).

Period: first quarter 2023
Revenue: $2,670
Net income: $(231)
EPS: $(1.30)
Result: reported results

Exact text from the filing

EcoSource TM brand of low carbon alumina to include non-metallurgical grades, in addition to smelter grade Financial Results M, except per share amounts 1Q23 4Q22 1Q22 Revenue $2,670 $2,663 $3,293 Net (loss) income attributable to Alcoa Corporation $(231) $(395) $469 (Loss) earnings per share attributable to Alcoa Corporation $(1.30) $(2.24) $2.49 Adjusted net

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Source: SEC EDGAR

accession 0001157523-23-000580

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