Alcoa Corporation Declared Robust Q4 and Full Year 2022 Results

SEATTLE (Scrap Monster): Pittsburgh-based Alcoa Corporation reported fourth quarter and full-year 2022 results.

During Q4 last year, the company generated revenue of $2.7 billion. It recorded net loss of $374 million, or $2.12 per share. Alcoa reported adjusted net loss of $123 million, or $0.70 per share and adjusted EBITDA excluding special items of $29 million. The company generated $118 million in cash from operations.

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For the full-year 2022, it generated revenue of $12.5 billion. The company posted net loss of $102 million, or $0.57 per share during the year. It recorded adjusted net income of $890 million, or $4.83 per share and adjusted EBITDA excluding special items of $2.2 billion. Also, it generated $822 million in cash from operations in 2022, said the company press release.

The third party alumina shipments by the company recorded sequential decline by 2% during Q4 2022, due to partial curtailment at the Spanish San Ciprian refinery. On the other hand, smelter restarts resulted in marginal 3% surge in total aluminum shipment volumes. The alumina segment production declined 2%, whereas the aluminum segment production was up by 4% from Q3 output.

The company will begin 2023 with a clear set of priorities, by building on the progress achieved over the past several years on strategic work, said Roy Harvey, President and CEO, Alcoa.