Alcoa reports Q4 adjusted EPS (70c), consensus (85c)

Reports Q4 revenue $2.66B, consensus $2.65B. "We are beginning 2023 with a clear set of priorities, building on the strategic work we’ve progressed over these past several years that has provided a strong balance sheet," said Alcoa President and CEO Roy Harvey. "Last year, global turbulence negatively influenced costs for energy and raw materials, and we saw significant variance on product pricing between the first and second halves of 2022. We are taking actions to further improve, and we have the experience, rigor, and skill to drive excellence across our global operations with disciplined cost management," Harvey said. "We will address current challenges while maintaining our future focus, as the long-term outlook for our industry remains strong. Aluminum is rising in importance as a material of choice, and we are excited about the development of our transformative technologies that have the potential to reinvent the industry."