Metal Price
Scrap Monster
Aluminum January 21, 2021 02:05:20 PM

Alcoa Corporation Declared Fourth Quarter and Full-Year 2020 Results

Paul Ploumis
ScrapMonster Author
For the full-year, the company delivered in excess of $900 million, mainly through strategic actions.
Alcoa Corporation Declared Fourth Quarter and Full-Year 2020 Results

SEATTLE (Scrap Monster):  Pittsburgh-based Alcoa Corporation reported fourth quarter and full-year 2020 results. The company posted strong operational performance and significant progress in execution of strategic priorities.

The improving demand in the aluminum segment led to 15% sequential jump in sales revenue of value-added products in Q4 last year. Alcoa generated $38 million in cash from operations during the quarter. As of 31st December, 2020, the company reported total cash balance of $1.6 billion.

For the full-year, the company delivered in excess of $900 million, mainly through strategic actions. It generated $394 million in cash from operations and a free cash flow of $41 million.

Alcoa reported net loss of $4 million or $0.02 per share in the fourth quarter 2020. This compares with net loss of $49 million or $0.26 per share in the third quarter. Excluding the impact of special items of $53 million, the adjusted net income was $49 million or $0.26 per share. The adjusted EBITDA excluding special items surged higher by 27% over the sequential quarter to $361 million.

The full-year 2020 revenue declined 11% to $9.3 billion, mainly on account of lower aluminum and alumina prices. The adjusted EBITDA excluding special items was $1,151 million, as compared with $1,656 million in 2019.

YOU MAY ALSO BE INTERESTED IN:

Alcoa Europe Facilities Awarded Prestigious ASI Certification

Booming Alumina and Aluminum Prices Drive Alcoa Q3 Results