Alcoa's Profitability Program Reaping Results - Analyst Sees Tailwinds From Lagged Alumina Pricing
Alcoa's Profitability Program Reaping Results - Analyst Sees Tailwinds From Lagged Alumina Pricing
B Riley Securities analyst Lucas Pipes maintains Alcoa Corporation (NYSE:AA) with a Neutral rating, raising the price target from $39 to $43.
b Riley Securities分析师Lucas Pipes维持美国铝业公司（纽交所：AA）的中立评级，将目标价从39美元上调至43美元。
According to the analyst, Alcoa is highly focused on closing the Alumina Limited acquisition immediately, which appears to be comfortably on pace for the August 1 target.
分析师表示，美国铝业公司高度关注立即完成Alumina Limited的收购，这一收购似乎已经稳步推进，符合8月1日的目标。
For the operating footprint, the company has made strides in its profitability improvement program, with a $350 million run-rate achieved to date and $295 million left to achieve over the second half of the year and 2025.
就经营足迹而言，该公司在其盈利改善计划中取得了进展，截至目前已达到3.5亿美元的年运行率，而在今年下半年和2025年还有2.95亿美元的目标待实现。
According to the analyst, final bids are being collected for a potential San Ciprian sale, but "hard decisions" are still expected if a sale or asset optimization is unsuccessful.
据分析师称，有关圣西普里安销售的最终出价正在收集，但如果销售或资产优化不成功，则仍将面临“艰难的决定”。
Pipes writes that investors are focused on potential through-cycle earnings on the back of the improvements.
Pipes表示，投资者关注的是基于这些改善的潜在的全周期收益。
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The analyst tweaked the third-quarter adjusted EBITDA estimate from $437 million to $427 million.
该分析师将第三季度的调整后的息税折旧前利润（EBITDA）预测从4370万美元下调至4270万美元。
Alcoa's profitability program is seeing results, with a $350 million run-rate of improvement achieved thus far.
美国铝业公司的盈利计划正在取得成效，迄今已经实现了3.5亿美元的改善年运行率。
Of this total, $250 million is attributable to raw materials savings, while the next largest buckets are the productivity and competitiveness program ($30 million of a targeted $100 million) and the Warrick optimization and IRA benefit ($30 million).
其中，2.5亿美元归因于原材料节省，而生产力和竞争力计划（1000万美元目标的300万美元）和Warrick优化和IRA效益（300万美元）是最大的分项。
According to JP Morgan analyst Bill Peterson, roughly 55% of its cost-saving initiatives (targeting a $645 million run-rate by 2025 vs. 2023 levels) have already been achieved.
据摩根大通分析师Bill Peterson表示，其节省成本的约55%（针对2025年与2023年水平相比的每年6.45亿美元的运行率）已经实现。
Peterson writes that, low hanging fruit has been captured and remaining tailwinds will be contingent on execution.
低挂果已被捕捉，剩下的顺风顶风将取决于执行情况，而Peterson认为，这将是其收益的关键动力。
Into the third quarter, the analyst projects further tailwinds from lagged alumina pricing and notes a decision on its lossmaking San Ciprian complex as a likely next catalyst.
在第三季度中，该分析师预测落后的氧化铝价格会继续推动公司的业绩，同时注意到其亏损的San Ciprian综合体的决定可能是下一个催化剂。
Price Action: AA shares are trading lower by 1.98% to $36.08 at last check Thursday.
股价表现：周四最新交易时，AA股价下跌1.98％，报36.08美元。
Photo via Wikimedia Commons
照片通过Wikimedia Commons
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