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Here's What Key Metrics Tell Us About Alcoa (AA) Q1 Earnings

Alcoa (AA) reported $2.6 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 2.7%. EPS of -$0.81 for the same period compares to -$0.23 a year ago.

The reported revenue represents a surprise of +3.14% over the Zacks Consensus Estimate of $2.52 billion. With the consensus EPS estimate being -$0.62, the EPS surprise was -30.65%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Bauxite production in Tons: 10.1 Mmt versus the two-analyst average estimate of 10.25 Mmt.

  • Alumina production in Tons: 2,670 Kmt versus the two-analyst average estimate of 2,649.65 Kmt.

  • Aluminum production in Tons: 542 Kmt versus the two-analyst average estimate of 545.05 Kmt.

  • Third-party bauxite shipments in Tons: 1,000 Mmt versus the two-analyst average estimate of 1,971.06 Mmt.

  • Total shipments - Alumina: 3,340 Kmt compared to the 3,344.15 Kmt average estimate based on two analysts.

  • Third-party sales- Bauxite: $64 million versus $108.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -52.9% change.

  • Third-party sales- Alumina: $897 million compared to the $880.33 million average estimate based on two analysts. The reported number represents a change of +24.4% year over year.

  • Third-party sales- Aluminum: $1.64 billion versus $1.71 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.

  • Total intersegment sales: -$406 million versus the two-analyst average estimate of $378.24 million. The reported number represents a year-over-year change of -195.8%.

  • Intersegment sales- Aluminum: $4 million versus the two-analyst average estimate of $4.50 million. The reported number represents a year-over-year change of +33.3%.

  • Total Third-party sales: $2.60 billion versus the two-analyst average estimate of $2.63 billion. The reported number represents a year-over-year change of -2.7%.

  • Intersegment sales- Alumina: $395 million versus the two-analyst average estimate of $373.74 million. The reported number represents a year-over-year change of -6.2%.

View all Key Company Metrics for Alcoa here>>>

Shares of Alcoa have returned +21.6% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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