Alcoa's Profitability Program Reaping Results - Analyst Sees Tailwinds From Lagged Alumina Pricing
Alcoa's Profitability Program Reaping Results - Analyst Sees Tailwinds From Lagged Alumina Pricing
B Riley Securities analyst Lucas Pipes maintains Alcoa Corporation (NYSE:AA) with a Neutral rating, raising the price target from $39 to $43.
b Riley Securities分析師Lucas Pipes維持美國鋁業公司（紐交所：AA）的中立評級，將目標價從39美元上調至43美元。
According to the analyst, Alcoa is highly focused on closing the Alumina Limited acquisition immediately, which appears to be comfortably on pace for the August 1 target.
分析師表示，美國鋁業公司高度關注立即完成Alumina Limited的收購，這一收購似乎已經穩步推進，符合8月1日的目標。
For the operating footprint, the company has made strides in its profitability improvement program, with a $350 million run-rate achieved to date and $295 million left to achieve over the second half of the year and 2025.
就經營足跡而言，該公司在其盈利改善計劃中取得了進展，截至目前已達到3.5億美元的年運行率，而在今年下半年和2025年還有2.95億美元的目標待實現。
According to the analyst, final bids are being collected for a potential San Ciprian sale, but "hard decisions" are still expected if a sale or asset optimization is unsuccessful.
據分析師稱，有關聖西普里安銷售的最終出價正在收集，但如果銷售或資產優化不成功，則仍將面臨“艱難的決定”。
Pipes writes that investors are focused on potential through-cycle earnings on the back of the improvements.
Pipes表示，投資者關注的是基於這些改善的潛在的全週期收益。
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The analyst tweaked the third-quarter adjusted EBITDA estimate from $437 million to $427 million.
該分析師將第三季度的調整後的息稅折舊前利潤（EBITDA）預測從4370萬美元下調至4270萬美元。
Alcoa's profitability program is seeing results, with a $350 million run-rate of improvement achieved thus far.
美國鋁業公司的盈利計劃正在取得成效，迄今已經實現了3.5億美元的改善年運行率。
Of this total, $250 million is attributable to raw materials savings, while the next largest buckets are the productivity and competitiveness program ($30 million of a targeted $100 million) and the Warrick optimization and IRA benefit ($30 million).
其中，2.5億美元歸因於原材料節省，而生產力和競爭力計劃（1000萬美元目標的300萬美元）和Warrick優化和IRA效益（300萬美元）是最大的分項。
According to JP Morgan analyst Bill Peterson, roughly 55% of its cost-saving initiatives (targeting a $645 million run-rate by 2025 vs. 2023 levels) have already been achieved.
據摩根大通分析師Bill Peterson表示，其節省成本的約55%（針對2025年與2023年水平相比的每年6.45億美元的運行率）已經實現。
Peterson writes that, low hanging fruit has been captured and remaining tailwinds will be contingent on execution.
低掛果已被捕捉，剩下的順風頂風將取決於執行情況，而Peterson認爲，這將是其收益的關鍵動力。
Into the third quarter, the analyst projects further tailwinds from lagged alumina pricing and notes a decision on its lossmaking San Ciprian complex as a likely next catalyst.
在第三季度中，該分析師預測落後的氧化鋁價格會繼續推動公司的業績，同時注意到其虧損的San Ciprian綜合體的決定可能是下一個催化劑。
Price Action: AA shares are trading lower by 1.98% to $36.08 at last check Thursday.
股價表現：週四最新交易時，AA股價下跌1.98％，報36.08美元。
Photo via Wikimedia Commons
照片通過Wikimedia Commons
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譯文內容由第三人軟體翻譯。