- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Alcoa Performs Well in Q4, Alumina Demand Up
Over the final quarter of 2018, the company brought in net income of US$43 million, with full-year net income coming to US$227 million.
Global aluminum leader Alcoa (NYSE:AA) recorded a profitable Q4 2018 off the strength of its bauxite and alumina segment which experienced price growth during the period.
Over the final quarter of 2018, the company brought in a net income of US$43 million, and a net income for the full year of US$227 million, with revenues surpassing US$13 billion.
“Our 2018 results reflect how we’ve made Alcoa stronger,” President and CEO Roy Harvey said inthe announcement.
“We’ve built upon the progress we made since our launch, and by executing our strategic priorities to reduce complexity, drive returns, and strengthen the balance sheet, we’re now better positioned to thrive through market cycles,” he added.
Despite Alcoa’s positive results, the company foresaw a global alumina deficit for 2018 of roughly 0.4 million to 1.2 million metric tonnes. The prediction proved correct with the global alumina deficit for 2018 hitting 0.6 million metric tons.
“With the help of higher market prices earlier in the year, we increased annual profits, addressed liabilities, significantly strengthened our balance sheet, and began returning cash to stockholders,” explained Harvey.
For the year ahead, the aluminum producer expects the alumina market to move into surplus territory. The stockpiles will be a result of an alumina surplus in China, where expansions in the refining space are expected to outpace demand growth from smelting.
While alumina may be in abundance for 2019, there may be an aluminum shortage.
“For 2019, Alcoa projects a global aluminum deficit ranging between 1.7 million and 2.1 million metric tons with global demand growth in a range of 3 to 4 percent,” noted thepress release.
The company foresees 2019 playing out favorably as well, as supply concerns help drive prices higher, similar to the sector performance in early 2018.
“With markets likely to remain dynamic in 2019, we will focus on what we can control to continue improving our operations, addressing challenges with agility, and making the most of opportunities in the year ahead.”
Alcoa shares were up 2.43 percent on Thursday (January 17), trading at US$29.40.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.