AA - Alcoa Corporation
| Previous Close | 22.56 |
| Open | 22.95 |
| Bid | 0.00 x 1100 |
| Ask | 0.00 x 2200 |
| Day's Range | 22.72 - 23.33 |
| 52 Week Range | 16.46 - 45.45 |
| Volume | 4,175,822 |
| Avg. Volume | 3,491,344 |
| Market Cap | 4.247B |
| Beta (3Y Monthly) | 1.64 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -3.12 |
| Earnings Date | Oct 16, 2019 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 28.67 |
- Bloomberg
Alcoa Reorganizes as Trump Tariffs Fail to Shield U.S. Producers
(Bloomberg) -- Alcoa Corp. is shrinking its executive team as slowing global growth sent shares of the largest U.S. aluminum producer tumbling by half in the past year despite tariffs aimed at protecting the domestic industry.Chief Executive Officer Roy Harvey will have seven people directly reporting to him when the changes take effect Nov. 1, from 12 currently, the Pittsburgh-based company said Monday in a statement. Alcoa will eliminate its business-unit structure and consolidate sales, procurement and other commercial functions.Alcoa will implement its second reorganization since its split in late 2016 as the company seeks to reduce its overhead after lower aluminum prices shaved its second-quarter earnings. The metal producer cut its outlook for demand in July, citing trade tensions.“In light of commodities under pressure you’re seeing a slew of announcements to cut costs, and that’s what Alcoa is doing,” Timna Tanners, an analyst at Bank of America Corp., said in a telephone interview. “The reason they’re doing this now is because commodity conditions are challenging.”Aluminum prices have plunged 13% in the past year, while premiums paid by buyers in the U.S. Midwest fell 14% even though the Trump administration imposed tariffs in 2018 on imports of the metal and steel.Alcoa shares rose 6.2% at the close in New York, trimming losses in the past year to 50%.Andrew Cosgrove, an analyst at Bloomberg Intelligence, said Alcoa may not be able to cut much more fat from its operations. Alcoa’s general expenses as a percentage of sales were at 1.9% last year, 2.4% in 2017 and 3.9% in 2016, he said in an email. “How much can they trim from that?” he said.Earlier this year, the Organisation for Economic Co-operation and Development said China’s huge subsidies for its aluminum makers continued to fuel excess plant capacity. Like other large aluminum producers, Alcoa has a large global footprint, generating only 44% of its revenue in the U.S.Alcoa is already a vastly different company than it was in 2016, when it split from the jet- and car-parts business in a major reorganization. The company’s structure was further refined in 2017, when Alcoa merged the aluminum smelting, cast and rolled products and most of the energy segment into its aluminum unit to reduce costs and complexity.The resulting units from that reorganization -- aluminum, bauxite and alumina -- will now be under the supervision of the smaller executive group, though the company will continue to report financial results for each of the segments separately. The new model means the presidents of alumina, Michael Parker, and bauxite, Garret Dixon, will leave after helping with the transition.The moves announced Monday will result in restructuring charges, which Alcoa expects to report at the end of the third quarter. The restructuring should be completed by the end of the first quarter of 2020.\--With assistance from Liezel Hill.To contact the reporters on this story: Steven Frank in Toronto at sfrank9@bloomberg.net;Joe Deaux in New York at jdeaux@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Yahoo Finance
Companies to Watch: Alcoa to restructure, San Francisco may acquire PG&E, Apple may invest in camera tech
Alcoa, PG&E, Apple, British Airways and AT&T are the companies to watch.
- Business Wire
Alcoa Corporation Announces New Operating Model
Alcoa Corporation (AA), a global leader in bauxite, alumina, and aluminum products, today announced that, effective November 1, 2019, it will implement a new operating model that will result in a leaner, more integrated, operator-centric organization that accelerates the Company’s strategic priorities. Alcoa will eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities at an enterprise level. Under the new operating model, the Alcoa Executive Team will also be streamlined from 12 to seven direct reports to the Chief Executive Officer.
- Business Wire
William F. Oplinger, Alcoa’s EVP and CFO, to Participate in Conferences Hosted by Credit Suisse and Morgan Stanley
Alcoa Corporation intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com. Alcoa is a global industry leader in bauxite, alumina and aluminum products, built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life.
- Market Realist
Trump Tariffs: Why Alcoa’s Fears Are Coming True
Last year, President Trump slapped a 10% tariff on US aluminum imports. Alcoa didn't support the tariffs in the first place.
- Business Wire
Alcoa and United Steelworkers Reach Tentative Labor Agreement for Five U.S. Locations
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has reached a tentative agreement with the United Steelworkers on a new 4-year labor agreement for approximately 1,700 active employees at five U.S. locations. The union members will now schedule a vote on the proposed contract, the result of extensive negotiations between the Company and the United Steelworkers. The United Steelworkers will now set the date for its members to vote on the proposal, which will cover employees represented by the union at Warrick Operations in Indiana, Massena Operations in New York, Gum Springs in Arkansas, Wenatchee Works in Washington, and Point Comfort in Texas.
- Zacks
Is the Options Market Predicting a Spike in Alcoa Corporation (AA) Stock?
Investors need to pay close attention to Alcoa Corporation (AA) stock based on the movements in the options market lately.
- Zacks
Timing the Market, Is it Possible? - August 21, 2019
Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?
- Market Realist
Alcoa Stock Fell to Record Lows amid Recession Fears
Alcoa stock is trading sideways with a negative bias on Thursday. There has been a bloodbath in the entire metal and mining space.
- Zacks
Timing the Market, Is it Possible? - August 02, 2019
In the long-run, does consistent market timing really matter to be a successful investor?
- Bloomberg
From Tesla to Twitter, a Guide to This Week’s Quarterly Reports
(Bloomberg) -- The upbeat picture painted by this past week’s blowout bank earnings heralded a promising earnings season. Too bad other industries didn’t get the memo.In the same week the five biggest U.S. lenders raked in over $30 billion in earnings for the first time, others around the globe left investors wondering how the bottom fell out so fast. Netflix Inc. sunk the most in three years amid a surprise drop in U.S. customers, while online retailer Asos Plc plunged after issuing another profit warning. Meanwhile, one-time earnings bellwether Alcoa Corp. beat on profit -- but also cut its forecast for global aluminum demand, adding to concerns that trade frictions are eroding the outlook for the industrial metal.This week, a range of high-profile companies report results, from tech titan Amazon.com Inc. and embattled aircraft maker Boeing Co. to burger behemoth McDonald’s Corp. and electric-car maker Tesla Inc. The earnings will offer a glimpse into every major sector of the economy, and Wall Street will be watching for signals like reduced hiring expectations, stalled capital expenses or consumers’ waning willingness to accept price hikes.With stock markets trending near record highs but recession risks on the rise, the second quarter could be yet another notch in the longest bull market in history -- or the beginning of its end.Here’s a look at what we’re watching:CarsAutomaker earnings may show how much the one-two punch of slowing sales and massive technological disruptions are impacting the industry’s bottom line.Those challenges have forced Ford Motor Co. and Volkswagen AG further into one another’s arms. After extending an alliance to include joint work on electric and autonomous vehicles, they’re expected to report stagnant or shrinking revenue. Daimler AG will put out finalized results weeks after the Mercedes-Benz maker posted a preliminary loss along with its fourth profit warning in just over a year. And analysts are projecting another unprofitable quarter for Tesla, which is blowing its battery-powered rivals out of the water but is still struggling to make money.The challenges extend to Asia, too. Nissan Motor Co. is set to give more details about restructuring efforts including potential job cuts as it tries to revive profitability that’s at a decade low. Jaguar Land Rover’s Indian owner Tata Motors Ltd. is also under pressure to show its cost-cut efforts are bearing fruit as it’s hit with hurdles from Brexit, a slowdown in China and flagging demand for diesel vehicles.ConsumerIf sales slow at McDonald’s, Starbucks Corp. or Chipotle Mexican Grill Inc., it will be a sign that consumers are cutting back on spending and eating out less. Higher labor and commodity costs have also forced restaurants to raise prices to maintain margins, and diners might balk at the idea of paying more for coffee and guacamole-stuffed burritos.Higher prices in recent quarters have benefited Starbucks as well as beverage makers Coca-Cola Co. and PepsiCo Inc. At Anheuser-Busch InBev, which just sold its Australian beer assets, investors will listen for any signs an IPO for the rest of its Asian business could be back on the table.China, meanwhile, will be the focus when European luxury conglomerates LVMH and Kering SA report results. The health of sales in that region will be scrutinized after showing surprising resilience in recent quarters, despite an ongoing trade war with the U.S. and the nation’s economic slowdown. Hong Kong protests, meanwhile, are hurting luxury spending at companies such as Richemont and Swatch Group AG.EntertainmentAT&T Inc. and Comcast Corp. can’t wait to enter the battle against Netflix and Walt Disney Co.’s Hulu for streaming-video viewers, but they have to contend with the continued decline of their legacy businesses first. As consumers flee traditional cable packages in favor of services like Netflix, AT&T and Comcast are expected to lose television customers, so investors will watch for signs that broadband subscriber growth can offset those declines.With casino companies including Las Vegas Sands Corp. and MGM Resorts International and their Asia subsidiaries reporting, investors will be on the lookout for any impact from China’s economic weakness.IndustrialsThe future of the 737 Max will be in focus when we hear from Boeing, which plans to report a $4.9 billion accounting charge related to its beleaguered jetliner. Southwest Airlines Co. and American Airlines Group Inc. have already removed the Max from their flight schedules through early November. Southwest is the model’s biggest operator while American is the world’s largest airline, and both carriers are sure to field questions about the Boeing crisis on their conference calls with analysts this week.Another company on the hot seat is aerospace-parts giant United Technologies Corp., whose merger agreement with Raytheon Co. has drawn fire from activist investors Dan Loeb and Bill Ackman. Investors in Caterpillar Inc., meanwhile, will look for more clarity on global demand for the company’s iconic machines in the second half of the year.TechnologyTech investors have a lot of information heading their way, with Facebook Inc., Alphabet Inc., Intel Corp. and Twitter Inc. all reporting. Their main question is whether those firms can keep revenue climbing amid the U.S.-China trade war and signs of slowing economic growth. There’s also mounting regulatory pressure on the sector around antitrust and privacy concerns. One player that’s avoided the recent scrutiny is Microsoft Corp., whose quarterly profit just topped estimates on the strength of its cloud-computing business.For hardware companies like Texas Instruments Inc. and Intel, the focus will be on the loss of market share in China as the companies grapple with a ban on exports to Huawei Technologies Co., a key customer.Amazon’s Prime Day got scads of attention last week, but it won’t be reflected in the company’s upcoming results. Investors in the e-commerce giant will be paying close attention to the fast-growing advertising and cloud business units.BankingEurope’s banks are expected to trail their U.S. peers for yet another quarter as global trade tensions continue to weigh on client activity. And unlike American banks, the Europeans don’t have a healthy stream of income from lending to fall back on due to negative interest rates.Deutsche Bank AG has already announced a loss for the quarter as it embarks on massive cutbacks, and investors will press for more details. France’s BNP Paribas SA has agreed to take on Deutsche’s hedge-fund and electronic-trading clients, but the integration is proving difficult and BNP will have to show progress in turning its own stocks trading unit around following embarrassing losses last year.Finally, Credit Suisse Group AG will have to answer questions about the surprise exit of a key wealth management executive who was seen as a potential successor to CEO Tidjane Thiam.\--With assistance from Brendan Case, Craig Giammona, Joe Deaux, Molly Schuetz, Craig Trudell, John J. Edwards III, Christian Baumgaertel, Eric Pfanner, Ville Heiskanen, Reed Stevenson and Christopher Palmeri.To contact the reporters on this story: Matthew Boyle in New York at mboyle20@bloomberg.net;Anne Riley Moffat in New York at ariley17@bloomberg.netTo contact the editors responsible for this story: Kevin Miller at kmiller@bloomberg.net, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Thomson Reuters StreetEvents
Edited Transcript of AA.N earnings conference call or presentation 17-Jul-19 9:00pm GMT
Q2 2019 Alcoa Corp Earnings Call
- Market Realist
Alcoa’s Q2 Earnings Report and Conference Call
On Wednesday, Alcoa (AA) released its second-quarter earnings report after the markets closed. The company reported revenues of $2.71 billion.
Motley FoolAlcoa Corporation (AA) Q2 2019 Earnings Call Transcript
AA earnings call for the period ending July 18, 2019.
- Zacks
Alcoa (AA) Reports Q2 Loss, Lags Revenue Estimates
Alcoa (AA) delivered earnings and revenue surprises of 97.06% and -2.92%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
- Market Realist
What to Expect From Alcoa’s Q2 Earnings This Week
On Wednesday, Alcoa is scheduled to release its second-quarter earnings after the markets close. So far, 2019 hasn't been a good year for Alcoa investors.
- Zacks
Analysts Estimate Alcoa (AA) to Report a Decline in Earnings: What to Look Out for
Alcoa (AA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
