Alcoa Corp reports results for the quarter ended June 30 - Earnings Summary

• Alcoa Corp AA reported quarterly adjusted earnings of 39 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 16 cents. The mean expectation of eight analysts for the quarter was for earnings of 31 cents per share. Wall Street expected results to range from 22 cents to 36 cents per share.

• Revenue rose 3.9% to $3.02 billion from a year ago; analysts expected $2.90 billion.

• Alcoa Corp's reported EPS for the quarter was 62 cents​.

• The company reported quarterly net income of $164 million.

• Alcoa Corp shares had fallen by 3.5% this quarter and lost 24.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 57.2% in the last three months.​

• In the last 30 days, seven analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 4 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the aluminum peer group is also "buy"

• Wall Street's median 12-month price target for Alcoa Corp is $35.00, about 18.4% above its last closing price of $28.56

This summary was machine generated from LSEG data July 16 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)