Alcoa Corporation has reported first quarter 2022 financial results that included quarterly records for net income, adjusted net income and Adjusted EBITDA excluding special items. Alcoa President & CEO Mr Roy Harvey said “We had an excellent start to the year with record profitability in the first quarter, including quarterly EBITDA that surpassed USD 1 billion for the first time in our history. In volatile markets influenced by world events, we have effectively managed our supply chain and maintained stability across our operations. We remain focused on the future through the pursuit of our strategic priorities and the development of our breakthrough technologies.”Net income increased sequentially to USD 469 millionAdjusted net income increased 21 percent sequentially to USD 577 millionAdjusted EBITDA excluding special items increased 20 percent sequentially to USD 1,072 millionShipments: In Aluminum, shipment volume for value add products, which includes specific shapes and alloys such as billet, slab, foundry, and rod, increased 6 percent sequentially, including the resumption of sales from the San Ciprián casthouse in Spain after conclusion of the strike in late December 2021. Shipments of commodity grade aluminum were down 19 percent sequentially, more than half on lower trading volume, for a total Aluminum segment decrease of 8 percent. In Alumina, third-party shipments decreased 1 percent sequentially.Production: Primary aluminum production decreased 10 percent sequentially on the curtailment of the San Ciprián smelter and fewer days in the quarter. Production in the Alumina segment was down 2 percent sequentially primarily on fewer days in the quarter and lower production from the Australian refineries which offset improvement from the San Ciprián refinery’s return to full production after the strike conclusion.
Alcoa Corporation has reported first quarter 2022 financial results that included quarterly records for net income, adjusted net income and Adjusted EBITDA excluding special items. Alcoa President & CEO Mr Roy Harvey said “We had an excellent start to the year with record profitability in the first quarter, including quarterly EBITDA that surpassed USD 1 billion for the first time in our history. In volatile markets influenced by world events, we have effectively managed our supply chain and maintained stability across our operations. We remain focused on the future through the pursuit of our strategic priorities and the development of our breakthrough technologies.”Net income increased sequentially to USD 469 millionAdjusted net income increased 21 percent sequentially to USD 577 millionAdjusted EBITDA excluding special items increased 20 percent sequentially to USD 1,072 millionShipments: In Aluminum, shipment volume for value add products, which includes specific shapes and alloys such as billet, slab, foundry, and rod, increased 6 percent sequentially, including the resumption of sales from the San Ciprián casthouse in Spain after conclusion of the strike in late December 2021. Shipments of commodity grade aluminum were down 19 percent sequentially, more than half on lower trading volume, for a total Aluminum segment decrease of 8 percent. In Alumina, third-party shipments decreased 1 percent sequentially.Production: Primary aluminum production decreased 10 percent sequentially on the curtailment of the San Ciprián smelter and fewer days in the quarter. Production in the Alumina segment was down 2 percent sequentially primarily on fewer days in the quarter and lower production from the Australian refineries which offset improvement from the San Ciprián refinery’s return to full production after the strike conclusion.
