Alcoa’s Q1 revenue down 19%; Spanish plants to remain in restart condition until June
Alcoa’s revenue for the first quarter of 2019 was $2.7 billion, down 19% from the fourth quarter of 2018, due to lower alumina and aluminium prices.
The producers adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) excluding special items for the first quarter between January and March 2019 stood at $467 million, a 39% decrease from the previous quarter.
“We improved our operations in the first quarter, even as alumina and aluminium prices weakened,” Roy Harvey, president and chief executive officer said.
“Our bauxite and alumina segments increased their production rates and we took steps last quarter to restructure our aluminium portfolio,” Harvey added.