Alcoa Updates 2018 Projection For Adj. EBITDA - Quick Facts

(RTTNews) - Alcoa Corp. (AA) updated its full-year outlook for adjusted EBITDA excluding special items to range between $3.0 billion to $3.2 billion, down from the prior quarter's range of $3.5 billion to $3.7 billion. The company said the new full-year forecast reflects current market prices, tariffs on imported aluminum, increased energy costs, and some operational impacts. The company continues to project a full-year 2018 global deficit for both aluminum and alumina and a surplus for bauxite.

Excluding the impact of special items, second quarter 2018 adjusted net income was $286 million, or $1.52 per share. In second quarter 2018, Alcoa reported $904 million of adjusted EBITDA excluding special items. Alcoa reported revenue of $3.6 billion, for the quarter.

Alcoa ended second quarter 2018 with cash on hand of $1.1 billion and debt of $1.9 billion, for net debt of $0.8 billion.