What to Expect from Alcoa’s 1Q18 Earnings

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What to Expect from Alcoa’s 1Q18 Earnings PART 1 OF 4

What Wall Street Expects from Alcoa’s 1Q18 Earnings

Alcoa’s 1Q18 earnings

Alcoa (AA) is scheduled to release its 1Q18 earnings on April 18. Overall, 2018 is turning out to be a volatile year for Alcoa and other aluminum producers like Century Aluminum (CENX), Rio Tinto (RIO), and Norsk Hydro (NHYDY).

What Wall Street Expects from Alcoa’s 1Q18 Earnings

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The year started off well for aluminum. However, we saw selling pressure in aluminum after President Trump slapped a 10% tariff on US aluminum imports and a 25% tariff on steel imports. While US steel prices continued their momentum after the Section 232 tariffs, we saw a divergent trend in the aluminum space (XME). While LME (London Metals Exchange) aluminum prices fell after President Trump unleashed a trade war on China, US physical premiums surged. For Alcoa, which produces more aluminum outside the United States, lower aluminum prices more than offset the positive impact from higher US aluminum premiums.

After targeting China, President Trump imposed sanctions on some Russian entities, which included aluminum giant RUSAL. We saw a sharp rally in LME aluminum prices after the sanctions against RUSAL. Alcoa also saw a sharp up move in the last two weeks amid rising aluminum prices.

Series overview

In this series, we’ll see what analysts are projecting for Alcoa’s 1Q18 earnings. We’ll also look at key updates that investors are looking forward to in Alcoa’s 1Q18 earnings call. Let’s begin by looking at Alcoa’s 1Q18 revenue estimates in the next article.

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