Investing.com -- Alcoa reported Wednesday mixed first-quarter results, but maintained its full-year production guidance despite warning that tariffs will impact shipments in the second quarter.
Alcoa Corp (NYSE:AA) rose more than 1% in afterhours following the report.
Alcoa reported adjusted earnings per share of $2.15 on revenue of $3.37 billion. Analysts polled by Investing.com anticipated adjusted EPS of $1.58 on revenue of $3.37B.
Alumina (OTC:AWCMY) and aluminum production fell 1% each in the quarter, with the latter weighed down by two fewer days in the period compared to a year earlier, though that was "partially offset by continued progress on the Alumar, Brazil smelter restart," Alcoa said.
For Q2, the company flagged "sequential unfavorable impacts of $90 million due to U.S. Section 232 tariffs on imports of aluminum from Canada, and $15 million of restart costs for the San Ciprián smelter."
Looking ahead to the full-year, the company maintained its forecast for total aluminum segment production and shipments ranging between 2.3 and 2.5 million metric tons, and between 2.6 and 2.8 million metric tons, respectively.