Alcoa Inc. has released preliminary financial results for the second quarter of 2024, with major highlights including an estimated year-on-year decrease of approximately 5% in alumina production, primarily due to the complete shutdown of the Kwinana refinery in June 2024. Aluminum production is expected to remain the same as that of the first quarter. Third-party alumina shipments are also expected to decrease approximately 5% year-on-year, attributed to the shutdown of the Kwinana refinery. Total aluminum shipments are anticipated to increase approximately 7% year-on-year, primarily due to the shipping schedule and the restart of an electrolysis line at Warrick Operations in the first quarter. Revenue is estimated to range from $2.85 billion to $2.925 billion, representing a year-on-year increase, primarily driven by higher average realized prices for alumina and aluminum.
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