Market News

Alcoa Plunges After-Hours on Mixed Earnings Report

Shares of Alcoa (NYSE:AA) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at a loss of -$0.70, which beat Analysts’ consensus estimate of -$0.81 per share.

Sales decreased by 20.4% year-over-year, with revenue hitting $2.66 billion. This missed analysts’ expectations of $2.7 billion.

Overall, Wall Street has a consensus price target of $47.14 on Alcoa, implying 11.79% downside risk, as indicated by the graphic above.


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