Alcoa Q4 2023 net loss $150M; revenue $2.6B flat; cost savings target $100M

Alcoa Corp

2023-FY EPS reported -$3.65 revenue$10,551,000,000

Q4 net loss $150M ($0.84/sh); adjusted loss $100M ($0.56/sh); revenue $2.6B flat sequentially.
FY2023 net loss $651M ($3.65/sh) vs. $123M loss in FY2022; adjusted EBITDA $536M down 76%.
Amended RCF: interest coverage ratio reduced to 3.00x for 2024; collateral with ratings-based release in 2025.
Cost savings program targeting ~$100M annual run-rate by Q1 2025; Kwinana refinery curtailment announced.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Alcoa Corp reported financial results for fourth quarter and full year 2023.

Period: fourth quarter and full year 2023
Result: reported results

Exact text from the filing

On January 17, 2024, Alcoa Corporation (the “Company”) issued a press release announcing its fourth quarter and full year 2023 financial results.

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Alcoa Corp filing history →

Source: SEC EDGAR

accession 0001157523-24-000066

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