secwatch.observer — SEC 8-K summary
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Issuer:     Alcoa Corp (AA)
CIK:        0001675149
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0001157523-24-000066
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1675149/000115752324000066/0001157523-24-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1675149/000115752324000066/a53881096.htm
  HTML page:      https://secwatch.observer/filing/0001157523-24-000066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer