Alcoa Corporation (AA.US) revenue in Q4 increased by 34% year-on-year, turning a loss into a profit.

After the US stock market closed on Wednesday, Alcoa Corporation (AA.US) announced its fourth-quarter performance in 2024. The data shows that the company's Q4 revenue was $3.49 billion, a 34% year-over-year increase, better than market expectations; net profit attributable to the company's shareholders was $202 million, compared to a loss of $150 million in the same period last year; adjusted earnings per share were $1.04, also better than market expectations. In the fourth quarter, aluminum oxide production decreased by 2% quarter-on-quarter to 2.39 million tons; aluminum production increased by 2% quarter-on-quarter to 571,000 tons, mainly due to continued progress in the restart of the Alumar smelter in Brazil. In terms of shipments, third-party aluminum oxide shipments increased by 12% quarter-on-quarter, mainly due to increased trading volume. Aluminum shipments remained flat quarter-on-quarter at 641,000 tons. As of the end of the quarter, the company's cash balance was $1.1 billion. Alcoa Corporation stated that if the Trump administration imposes a 25% tariff on Canadian aluminum products, it could increase customer costs by $1.5 billion to $2 billion annually. Looking ahead, Alcoa Corporation expects that aluminum oxide production in 2025 will be between 9.5 million and 9.7 million tons, a decrease from 2024, due to production cuts at the Kwinana smelter. Aluminum oxide shipments in 2025 are expected to be between 13.1 million and 13.3 million tons, consistent with 2024. Alcoa Corporation expects that due to smelter restarts, aluminum production in 2025 will be between 2.3 million and 2.5 million tons, an increase from 2024. Aluminum shipments in 2025 are expected to be between 2.6 million and 2.8 million tons. As of the time of writing, Alcoa Corporation fell by 0.88% after hours, to $38.44.