Alcoa (AA.US) saw a 34% YoY increase in Q4 revenue and turned a profit from a loss YoY.

On Wednesday after the U.S. stock market closed, Alcoa (AA.US) reported its fourth-quarter 2024 earnings. The data showed that the company's Q4 revenue was US$3.49 billion, up 34% YoY, better than market expectations; its net profit attributable to parent was US$202 million, compared with a loss of US$150 million in the same period last year; and its adjusted EPS was US$1.04, also better than market expectations.

For the fourth quarter, the production of alumina decreased 2% sequentially to 2.39 million tons; the production of aluminum increased 2% sequentially to 571,000 tons, mainly due to the continuous progress in the restart of the Alumar smelter in Brazil.

Regarding shipments, shipments of alumina to third parties increased 12% sequentially, mainly due to increased volumes. Shipments of aluminum were flat at 641,000 tons.

As of the end of the quarter, the Company's cash balance was US$1.1 billion.

Alcoa said that if the Trump administration imposes a 25% tariff on Canadian aluminum products, it could result in an annual increase of US$1.5 billion to US$2 billion in customer costs.

Looking ahead, Alcoa expects its alumina production in 2025 to be between 9.5 million and 9.7 million tons, down from 2024, due to the production cut at the Kwinana smelter. Its alumina shipments are expected to be between 13.1 million and 13.3 million tons, consistent with 2024.

Alcoa expects its aluminum production in 2025 to be between 2.3 million and 2.5 million tons, up from 2024, due to the restart of smelters. Its aluminum shipments are expected to be between 2.6 million and 2.8 million tons.

As of the time of writing, Alcoa's after-hours stock price fell 0.88% to US$38.44.