Short answer
Alcoa Corp (AA) filed its Q3 2018 10-Q quarterly report on Nov 2, 2018 for the quarter ended Sep 30, 2018.
Alcoa Corp Q3 2018 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $3,390, up $426, or 14% YoY
- COGS margin 74.7% vs 78.9% YoY, net loss $41 vs net income $113
- Best segment Alumina: adjusted EBITDA up $457; worst Aluminum, down $242
- Nine-month operating cash flow used $87 vs $769 provided, driven by $940 pension contributions
- Q4 headwinds: higher caustic soda, bauxite, alumina, carbon, maintenance and Section 232 tariff costs
Risk Factors
- No material changes identified, with prior 10-K risks incorporated by reference
- Aluminum price volatility: London Metal Exchange prices, premiums, and alumina prices remain key earnings drivers
- Regulatory and legal exposure: government investigations, legal proceedings, and environmental remediation contingencies
- Operational risk: inability to achieve targeted profitability, cost savings, cash generation, and productivity improvements
- Liquidity risk: cash and cash equivalents declined to $1,022 million from $1,358 million at December 31, 2017
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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