Alcoa Foresees Dip in Aluminum Segment Shipments During 2022

SEATTLE (Scrap Monster): Alcoa Corporation announced outlook of operations during 2022.

The company’s shipments from Aluminum segment are likely to total between 2.5 and 2.6 million tonnes during the current year, down from 2021. The reduced shipments are mainly attributed to divestiture of Warrick Rolling Mill and recent changes in the company’s smelting portfolio. Meantime, the alumina shipments are expected to range between 48 and 49 million dry metric tons, more or less unchanged over the year.

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The Q1 2022 adjusted EBITDA and adjusted net income levels are likely to maintain the levels recorded in Q4 2021. The raw material and energy challenges will be offset by benefits from the current metal index. Alcoa expects improved performance from the Alumina and Aluminum segments during the quarter. On the contrary, it expects lower quarterly performance from Bauxite segment.

The uncertainty surrounding the duration and magnitude of Covid-19 pandemic and its impact on company’s operations could cause actual results to differ from the above outlook, the press release said.

Based on current market conditions, the Q1 2022 tax expenses are projected at around $165-$170 million.

Also, the company expects to make further progress against its five-year review of its operating portfolio during the year.