Reports Q1 revenue $2.67B, consensus $2.73B. "In the first quarter of 2023, we saw improvement in some key financial metrics, including a $211 million sequential gain in Adjusted EBITDA, and we continued to maintain a strong balance sheet," said Alcoa CEO Roy Harvey. "We’re also making important progress in stabilizing our operations, with teams working to improve on a minute-by-minute, day-by-day basis. We plan to build on that momentum as we tackle a host of complex issues, including developing breakthrough technologies and addressing increased expectations from stakeholders. I have confidence in our team’s abilities to develop solutions, such as our recent decision to expand our EcoSource alumina brand to now include non-metallurgical grades as part of our SustanaTM family of low-carbon products. We know that all aluminum is not created equally, and being a responsible producer will be a key differentiator to help position Alcoa for the future. The world will need sustainably produced materials to help reach global decarbonization goals, and we will be the Company to provide them."
Published first on TheFly
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