AA - Aluminum Giant Alcoa Gains Tax Credit Momentum In Q4 Amid Brazilian Asset Adjustments | Benzinga
Alcoa Corp (NYSE: AA) updated its guidance as the U.S. Treasury Department's disclosed guidance on Section 45X of the Advanced Manufacturing Tax Credit.
The Advanced Manufacturing Tax Credit was enacted as a part of the Inflation Reduction Act (IRA).
Consequently, in Q4, the company expects to record a benefit in cost of goods sold of $35 million-$40 million (after-tax), or $0.20-$0.22 per share related to its Massena smelter in ...