Alcoa Q4 CY22 Results Review - Tepid Performance; Cautious Commentary: ICICI Securities

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Alcoa Corp’s Q4 CY22 performance missed consensus estimates. Key highlights:higher raw material cost amidst lower realisation impinged Ebitda;aluminium shipments rose 2% YoY at 641 thousand tonne, following the restarting at Alumar (Brazil) and Portland (Australia) smelters; andlower shipments of value-added products, sequentially lower London Metal Exchange prices and higher costs resulted in Al EBITDA/t declining 94% YoY (80% QoQ) to a mere US$48/te - lowest since Q2CY20. Going ahead, management expects-challenging market conditions though there is some respite in raw material costs;automotive and packaging segments are the key demand drivers; and Chinese primary aluminium exports might be restrained as operating capacity is expected to be up only 1.1 million tonnes per annum in CY23. Taking cues from Alcoa’s Q4 CY22 result and commentary, we expect Hindalco Industries Ltd.’s performance to stay muted (Q3 FY23E Ebitda at Rs 48.8 billion- down 34% YoY; 9% QoQ); however, we believe Novelis’ shipments might not be impacted much owing to favorable traction in packaging and automotive sectors..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Alcoa Q4 CY22 Results Review - Tepid Performance; Cautious Commentary: ICICI Securities

Taking cues from Alcoa’s Q4 CY22 result and commentary, we expect Hindalco’s performance to stay muted.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Alcoa Q4 CY22 Results Review - Tepid Performance; Cautious Commentary: ICICI Securities

Taking cues from Alcoa’s Q4 CY22 result and commentary, we expect Hindalco’s performance to stay muted.

Choose a plan

Follow Us

DOWNLOAD THE APP