=Alcoa (AA) reported earnings on Wed 18 Apr 2018 (a/h)

Alcoa beats by $0.09, misses on revs 

• Reports Q1 (Mar) earnings of $0.77 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.68; revenues rose 16.4% year/year to $3.09 bln vs the $3.16 bln Capital IQ Consensus.
• Alcoa is projecting a global deficit for both aluminum and alumina in 2018. Due to delays in projects to expand smelters in China, co expects the global aluminum deficit to grow to between 600,000 and 1 mln metric tons, up from last quarter's deficit estimate of between 300-700K metric tons. Global aluminum demand growth is projected between 4.25-5.25%.
• In alumina, Alcoa projects a global deficit between 300 thousand metric tons and 1.1 million metric tons for full year 2018, primarily due to supply disruptions in the Atlantic region.

Alcoa raises FY18 EBITDA guidance in presentation slides
Raises FY18 adj. EBITDA to $3.5-3.7 bln from $2.6-2.8 bln; reaffirms bauxite, alumina and aluminum shipments.