Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina and aluminum products, today reported fourth quarter and full-year 2017 results.The quarter and the full-year reflect ongoing strength in alumina and aluminum pricing as management continued to execute on its strategic priorities to reduce complexity, drive returns and strengthen the balance sheet.
The Company closed the year with $1.36 billion cash, up $239 million sequentially and $505 million year-over-year.
Based on January 2018 market assumptions, Alcoa is projecting full-year 2018 adjusted EBITDA, excluding special items, to range between $2.6 billion and $2.8 billion.
Roy Harvey, President and Chief Executive Officer, said:
“Solid market fundamentals allowed us to deliver our strongest adjusted EBITDA quarter since our launch as an independent, publicly-traded company. With a series of operating and asset decisions, we also purposefully delivered against our strategic priorities.
Our first full year has been truly remarkable. By continuously focusing on our strategic priorities, and supported by favorable markets, we’ve been able to accelerate our plan to strengthen Alcoa’s foundation for an even brighter tomorrow. As we enter 2018, we will continue to execute on our objectives and look forward to delivering more in the new year.”