Headquartered in Pittsburgh, Pa., Alcoa Corporation (AA) is a leading aluminum, alumina, and bauxite producer. With more than 135 years of experience, AA is the second-largest aluminum producer in the United States by revenue. The company has also been recognized for its environmental, social, and governance (ESG) performance. It was recognized for its ESG leadership by the Dow Jones Sustainability Indices in 2021. In addition, AA has an ISS Governance QualityScore of 1, indicating low governance risk. Regarding this, AA Executive Vice President Sonya Elam Harden said, “Sustainability is embedded in Alcoa’s strategic priorities, and our consistent listing in the DJSI underscores this steadfast commitment…Looking ahead, we’re continuing to advance our efforts in alignment with our vision to reinvent the aluminum industry for a sustainable future.”
AA released its fiscal 2021 fourth quarter (ended December 31, 2021) and full-year earnings report on January 19, after the market closed. AA’s revenues increased 39.6% year-over-year to $3.34 billion, surpassing the $3.29 billion FactSet consensus revenue estimate. Its adjusted EPS came in at $2.50, reflecting an 861.5% rise from the same period last year. And it surpassed the Street’s EPS $1.63 estimate by 53.4%. However, the company’s net loss widened 9,700% from its year-ago value to $392 million. This can be attributed to losses from restructuring-related charges, non-cash pension settlement charges, and the closure and curtailment of two aluminum smelters.
