Alcoa (AA) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

The upcoming report from Alcoa (AA) is expected to reveal quarterly earnings of $1.73 per share, indicating an increase of 313.6% compared to the year-ago period. Analysts forecast revenues of $3.47 billion, representing an increase of 33.6% year over year.Over the last 30 days, there has been a downward revision of 20.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Bearing this in mind, let's now explore the average estimates of specific Alcoa metrics that are commonly monitored and projected by Wall Street analysts.The collective assessment of analysts points to an estimated 'Total sales- Aluminum' of $2.06 billion. The estimate points to a change of +25.6% from the year-ago quarter.The consensus among analysts is that 'Third-party sales- Bauxite' will reach $110.67 million. The estimate indicates a year-over-year change of +72.9%.Based on the collective assessment of analysts, 'Third-party sales- Aluminum' should arrive at $2.05 billion. The estimate points to a change of +24.9% from the year-ago quarter.Analysts forecast 'Third-party sales- Alumina' to reach $1.37 billion. The estimate points to a change of +53% from the year-ago quarter.It is projected by analysts that the 'Average realized third-party price per metric ton of alumina' will reach $622.92. Compared to the current estimate, the company reported $372 in the same quarter of the previous year.The consensus estimate for 'Average realized third-party price per metric ton of aluminum' stands at $3,190.27. The estimate is in contrast to the year-ago figure of $2,620.The combined assessment of analysts suggests that 'Third-party alumina shipments in Tons' will likely reach 2,179.33 Kmt. Compared to the present estimate, the company reported 2,397 Kmt in the same quarter last year.Analysts predict that the 'Third-party aluminum shipments in Tons' will reach 637.32 Kmt. Compared to the present estimate, the company reported 634 Kmt in the same quarter last year.Analysts expect 'Intersegment Alumina Shipments' to come in at 1,066.83 Kmt. The estimate compares to the year-ago value of 943 Kmt.Analysts' assessment points toward 'Alumina production in Tons' reaching 2,376.16 Kmt. Compared to the current estimate, the company reported 2,670 Kmt in the same quarter of the previous year.According to the collective judgment of analysts, 'Aluminum production in Tons' should come in at 571.57 Kmt. The estimate compares to the year-ago value of 542 Kmt.The average prediction of analysts places 'Bauxite production in Tons' at 9.75 Mmt. Compared to the present estimate, the company reported 10.1 Mmt in the same quarter last year.View all Key Company Metrics for Alcoa here>>>Shares of Alcoa have experienced a change of -26.5% in the past month compared to the -6.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), AA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alcoa (AA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks