Alcoa
AA
is expected to publish its Q3 2023 results around October 18, reporting on a quarter that saw aluminum prices trend lower. We expect the company’s revenues to come in at about $2.63 billion, marginally ahead of the consensus estimates of $2.59 billion. While this would mark a 2% decline sequentially, it would translate into a year-over-year decline of around 12%. We estimate that the company will post a net loss of about -$0.90 per share, slightly better than the consensus, although this would mark a decline from last year. So what are some of the trends that are likely to drive Alcoa’s results? See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter.
We note that AA stock has had a Sharpe Ratio of 0.2 since early 2017, which is lower than 0.5 for the S&P 500 Index over the same period. This compares with the Sharpe of 1.2 for the Trefis Reinforced Value portfolio. Sharpe is a measure of return per unit of risk, and high-performance portfolios can provide the best of both worlds.
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