greeksoup/ stock research
Stock research / United States / AA / Q4 FY2023

Alcoa (AA) Q4 FY2023 earnings: revenue $2.6 billion, down 2.6% on the year

Alcoa Corp. (AA) reported revenue of $2.6 billion for Q4 FY2023, the quarter ended 31 December 2023, down 2.6% on the same quarter a year earlier. Net income was -$150 million, and diluted earnings per share $-0.84. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.

Revenue$2.6 billiondown 2.6%
Net income-$150 million
Diluted EPS$-0.84
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue2,5952,602n/an/a
Cost of revenue2,4252,469n/an/a
Gross profit170133n/an/a
Gross margin6.6%5.1%n/a
Research and development14.09.0n/an/a
Selling, general and administrative64.056.0n/an/a
Interest expense28.026.0n/an/a
Pre-tax income-77.0-228n/an/a
Income tax-36.0-35.0n/an/a
Net income-150-168n/an/a
Net margin-5.8%-6.5%n/a
Diluted EPS-$0.84-$0.94n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow19869.0n/an/a
Capital expenditure188145n/an/a
Free cash flow10.0-76.0n/an/a
Free cash flow margin0.4%-2.9%n/a
Cash from investing-197-166n/an/a
Cash from financing6.035.0n/an/a
Depreciation and amortisation163163n/an/a
Share-based compensation8.06.0n/an/a
Dividends paid18.018.0n/an/a
Dividend per sharen/a$0.10n/an/a
Diluted shares, weighted178m178mn/an/a
Shares outstanding at period end178m178mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity4,2514,509n/an/a
Non-controlling interest1,5941,583n/an/a
Short-term borrowings56.0n/an/an/a
Debt1,8111,809n/an/a
Operating lease liabilities104n/an/an/a
Other liabilities6,3396,016n/an/a
Total liabilities and equity14,15513,917n/an/a
Fixed assets6,7856,532n/an/a
Goodwill146146n/an/a
Intangible assets37.0n/an/an/a
Cash and equivalents944926n/an/a
Receivables656691n/an/a
Inventory2,1582,190n/an/a
Other assets3,4293,432n/an/a
Total assets14,15513,917n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,6022,5952,5992,9062,9043,4863,3693,0182,9953,4493,1933,966
Cost of revenue2,4692,4252,4042,5332,3932,7142,4382,6522,6952,8732,5122,967
Gross profit133170195373511772931366300576681999
Gross margin5%7%8%13%18%22%28%12%10%17%21%25%
R&D9.014.011.013.016.017.012.012.011.0-11.010.011.0
SG&A56.064.060.069.066.080.071.082.078.068.083.0101
Interest expense26.028.027.040.044.045.053.056.033.016.035.036.0
Pre-tax income-228-77.0-32592.018433866816116768.0499482
Tax raten/an/an/a66%47%40%18%6%-31%-197%16%15%
Net income-168-150-25220.090.0202548164232213425407
Net margin-6%-6%-10%1%3%6%16%5%8%6%13%10%
Diluted EPS-$0.94-$0.84-$1.41$0.11$0.38$0.76$2.07$0.62$0.88$0.80$1.60$1.53
Operating cash flow69.0198-22328714341575.048885.0537-179608
Capital expenditure14518810116414616993.0131151243119186
Free cash flow-76.010.0-324123-3.0246-18.0357-66.0294-298422
Dividends paid18.018.019.018.026.026.026.026.026.026.027.026.0
Shares outstanding178m178m180mn/an/a258mn/an/an/a263m264m264m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 21 February 2024, accession 0000950170-24-018069: the filing on EDGAR. All of Alcoa Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install