Alcoa Reports Q1 Financial Performance, Adjusts Full-Year Shipment Forecasts

Alcoa reported a first quarter adjusted loss per share of $0.81, which did not meet analyst expectations of a $0.64 loss per share. However, the company surpassed revenue forecasts with first quarter sales reaching $2.60 billion, compared to the anticipated $2.55 billion.

The company's adjusted EBITDA for the quarter stood at $132 million, again beating the analyst projections of $113 million. Despite the mixed financial results, Alcoa maintains its shipment forecasts for the full year. The expected shipment volume for alumina ranges from 11.7 million to 12.7 million metric tons, adjusting the previous forecast slightly. For aluminum, the forecast remains steady with an expected annual shipment volume of 2.5 million to 2.6 million metric tons.