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Since inventing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability and stronger communities wherever we operate." data-reactid="51"Alcoa (AA) is a global industry leader in bauxite, alumina and aluminum products built on a foundation of strong values and operating excellence dating back nearly 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life.Since inventing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability and stronger communities wherever we operate.
Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Alcoa Corporation disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.Alcoa ended second quarter 2017 with cash on hand of $954 million with $1.4 billion of debt for net debt of $0.5 billion.The Company reported 18 days working capital.announced plans to restart three of five potlines at its Warrick Operations smelter to supply the co-located rolling mill.All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, forecasts concerning global demand growth for bauxite, alumina, and aluminum, and supply/demand balances; statements, projections or forecasts of future or targeted financial results or operating performance; and statements about strategies, outlook, business and financial prospects.These statements reflect beliefs and assumptions that are based on Alcoa Corporation’s perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances.Accordingly, the financial results of Alcoa Corporation for the first ten months of 2016 (including the first month of fourth quarter 2016) were prepared on such basis.
The carve-out financial statements of Alcoa Corporation are not necessarily indicative of Alcoa Corporation’s consolidated results of operations, financial position, and cash flows had it been a standalone company during the referenced period.
Excluding the impact of special items, second quarter 2017 adjusted net income was $116 million, or $0.62 per share.
In first quarter 2017, Alcoa’s adjusted net income was $117 million, or $0.63 per share, excluding special items.
In addition, Alcoa now expects negative $50 million in net performance for full year 2017, as strength in the global aluminum market drives up input costs.“Alcoa generated solid profitability in the second quarter with strong cash flow that grew our cash balance to more than $950 million,” said Roy Harvey, President and Chief Executive Officer.
“Through the first half of the year, our adjusted EBITDA topped $1 billion, and we expect improvements in the second half of 2017, despite higher input costs.”Harvey continued: “We are pursuing a simple set of strategic priorities to reduce complexity, drive returns and strengthen the balance sheet, and we will continue to base each of our decisions on these three key levers for the benefit of our stockholders.”In second quarter 2017, Alcoa reported net income of $75 million, or $0.40 per share.
Conference Call" data-reactid="45"Conference Call Alcoa will hold its quarterly conference call at p.m.