The Zhitong Finance App learned that on April 21, Beijing time, Alcoa (AA.US) announced results for the first quarter of 2022. Financial reports show that Alcoa's Q1 revenue was 3.293 billion US dollars, up 1.4% year on year, falling short of market expectations of 3.49 billion US dollars.

Net profit attributable to Alcoa was US$469 million, up 168% year on year; diluted earnings per share were $2.49, compared to $0.93 in the same period last year, falling short of market expectations of $2.89.

Alcoa's Q1 product sales cost was US$2,181 million, compared to US$2,292 million in the same period last year; adjusted EBITDA was US$1.07 billion, and the market forecast was US$1.04 billion.

As of the end of the quarter, Alcoa held $1.6 billion in cash.

In the first quarter, the actual average price per metric ton of aluminum rose 14% month-on-month to 3861 US dollars per metric ton, up 479 US dollars from the previous quarter. The actual average price per metric ton of alumina is $375.

Performance Guidelines

Alcoa predicts that annual alumina shipments will be between 14.2 million and 14.4 million metric tons, and that aluminum shipments will be between 2.5 million and 2.6 million metric tons.

For the second quarter of 2022, based on current prices, Alcoa expects both alumina and third party realized prices for aluminum to be higher than in the first quarter. This benefit is partially offset by an increase in energy and raw material costs of around $115 million.