According to performance reports released by Alcoa, in the first quarter, the firm’s revenue was around US$2.38 billion, decreasing by 12.5% compared to the same period a year ago, mainly due to drops in alumina and aluminum prices and decline in sale volume.
Meanwhile, Alcoa's net revenue attributable to parent was US$80 million, compared with a net loss of US$199 million in the first quarter of last year. The increase was due to the fact that the firm sold some non-core assets such as waste disposal facilities. Besides, Alcoa's adjusted EBITDA was US$321 million, a year-on-year decrease of 32%.
Alcoa’s revenue falls in Q1 due to drops in alumina & aluminum prices
23 Apr 2020 13:10 reported by Joy Liu
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