Short answer
Alcoa Corp (AA) filed its Q2 2019 10-Q quarterly report on Jul 31, 2019 for the quarter ended Jun 30, 2019.
Alcoa Corp Q2 2019 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q2 revenue $2,711, down $868 or 24% YoY, driven by lower metal and alumina prices
- Net loss $402 vs $10 net income YoY; cost of goods sold 80.7% vs 76.9% of sales
- Worst segment Aluminum: Adjusted EBITDA down $227, third-party sales down 27% to $1,757
- Operating cash flow $250 vs negative $375 YoY; capital expenditures $158 and investments $111
- Q3 outlook: higher production expected, with lower alumina and aluminum costs offset by higher bauxite costs and lower Brazil hydro prices
Risk Factors
- Regulatory risk: compliance with Saudi Arabian laws, permits, and U.S. Foreign Corrupt Practices Act
- Project execution risk: Phase I financing completion required by December 31, 2010
- Counterparty risk: Alcoa parent guarantee required before Alcoa affiliates receive shares
- Financial risk: project funding dependent on shareholder funding and senior debt financing
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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