Alcoa Announced Q4 Full Year 2021 Results

SEATTLE (Scrap Monster): Pittsburgh-based Aloca Corporation reported Q4 and full year 2021 results. 2021 was a transformative year for the company, with annual net income and earnings per share hitting record highs. The company’s results continued to be driven by strong alumina and aluminum pricing.

During Q4 last year, revenue totalled $3.3 billion, higher by 7% over the sequential quarter. It recorded quarterly net loss of $392 million and loss per share of $2.11. Alcoa generated $565 million in cash from operations. The company finished the quarter with a cash balance of $1.19 billion. The total third party aluminum shipments declined 5% sequentially, primarily due to strike action at the San Ciprian smelter.

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In 2021, the company posted highest annual net income of $429 million and earnings per share of $2.26. It generated revenue of $12.2 billion, which is the highest since 2018. The revenue witnessed 31% surge over the previous year. The total debt and net cash at the end of the year stood at $1.8 billion and $12 million respectively. Alcoa generated net cash proceeds of $966 million from non-core asset sales.

Roy Harvey, President and Chief Executive Officer, Alcoa said that the strong performance demonstrates that its long-term strategies have started to deliver. He thanked the dedication and excellent performance of its employees across the globe.