AWCMF - Alcoa Corporation: Great News Justifies Additional Upside

2024-07-11 14:31:47 ET

Summary

• Alcoa Corporation shares rose over 2% after announcing preliminary financial results for the second quarter of fiscal year 2024.
• Revenue for the quarter is expected to exceed last year's figures and analysts' expectations, driven by higher sales prices and shipment volumes.
• Management remains optimistic about the future, with plans to boost profitability and progress on key initiatives like the Alumina Limited acquisition and ELYSIS technology.

Shares of aluminum giant Alcoa Corporation ( AA ) rose by over 2% in early trading on July 11th. This came after the company announced , following the close of business on July 10th, preliminary financial results covering the second quarter of the company's 2024 fiscal year. Although management has only provided a snippet of data covering that time, it is clear that the financial picture is better, not only on a year-over-year basis, but also better than what analysts anticipated....

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