Short answer
Alcoa Corp (AA) filed its Q2 2017 10-Q quarterly report on Aug 3, 2017 for the quarter ended Jun 30, 2017.
Alcoa Corp Q2 2017 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Second-quarter sales $2,859M, up $536M or 23% YoY
- Net income $75M vs $55M net loss; effective tax rate 41.8% vs 121.4%
- Best segment Alumina: Adjusted EBITDA up $113M, third-party sales up 25% YoY
- Cash from operations $385M vs $441M used; capital expenditures $159M and Yadkin proceeds $243M
- Third-quarter headwinds: higher bauxite, caustic, alumina, energy, carbon, maintenance, and transportation costs
Risk Factors
- No material changes to risk factors from the 2016 10-K, per the provided filing text
- Regulatory and compliance exposure: environmental and tax liabilities allocated under separation agreements remain Alcoa’s responsibility
- Operational risk: 110 employees targeted for 2017 restructuring, with remaining separations expected by year-end
- Market risk: aluminum-linked power contracts expose earnings to LME prices and Midwest premiums
- Financial risk: long-term debt fair value $1,566 versus carrying value $1,418 at June 30, 2017
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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