Alcoa (AA, Financial) shares increased by 5.16% in pre-market trading, reaching $44.24. The boost follows its third-quarter revenue report of $2.9 billion, marking a 12% year-over-year growth. This figure was slightly below the market expectation of $2.95 billion.
The company posted a net profit of $90 million, rebounding from a loss of $168 million in the same period last year. Adjusted earnings per share stood at $0.57, exceeding the market forecast of $0.33. Additionally, Alcoa's adjusted EBITDA was $455 million, surpassing the anticipated $390 million.
In strategic developments, Alcoa is progressing in its negotiations with Ignis EQT, aiming to finalize a strategic agreement that could further enhance its market position.
