Alcoa Corp (AA)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -648,000 | -677,000 | -1,180,000 | -317,000 | 541,000 | 662,000 | 1,832,000 | 1,469,000 | 1,058,000 | 1,168,000 | 697,000 | 125,000 | 17,000 | -248,000 | -367,000 | -501,000 | -710,000 | -247,000 | 133,000 | 587,000 |
| Revenue (ttm) | US$ in thousands | 10,494,000 | 10,518,000 | 10,798,000 | 11,717,000 | 12,326,000 | 12,863,000 | 13,111,000 | 12,351,000 | 11,954,000 | 11,167,000 | 10,433,000 | 9,693,000 | 9,175,000 | 9,219,000 | 9,428,000 | 9,990,000 | 10,327,000 | 11,235,000 | 12,076,000 | 12,977,000 |
| Pretax margin | -6.17% | -6.44% | -10.93% | -2.71% | 4.39% | 5.15% | 13.97% | 11.89% | 8.85% | 10.46% | 6.68% | 1.29% | 0.19% | -2.69% | -3.89% | -5.02% | -6.88% | -2.20% | 1.10% | 4.52% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-648,000K ÷ $10,494,000K
= -6.17%
The pretax margin of Alcoa Corp has exhibited variability over the past eight quarters. In the most recent quarter, Q4 2023, the pretax margin was -5.54%, indicating that the company's earnings before taxes were insufficient to cover operating expenses. This represents a decline from the previous quarter, Q3 2023, which had a pretax margin of -7.03%.
Looking further back, the trend continues to show fluctuations in the pretax margin. In Q1 and Q2 of 2023, the pretax margins were -2.04% and -11.48% respectively, displaying a struggling financial performance during that period.
In contrast, the pretax margins were positive in the earlier quarters of 2022, with Q1 and Q2 at 13.12% and 15.67% respectively, indicating stronger profitability levels. However, there was a decline in profitability in the subsequent quarters of 2022, with Q3 and Q4 showing pretax margins of 6.63% and 5.64% respectively.
Overall, the pretax margin of Alcoa Corp has shown a mix of positive and negative results in recent quarters, reflecting fluctuations in the company's profitability and operational efficiency. Monitoring this metric closely will be crucial to assessing the company's financial health and performance in the future.
Peer comparison
Dec 31, 2023