Alcoa reduces full-year alumina production guidance due to operational issues
Alcoa’s shares fell 2.4% in pre-market trading after the company reported below-consensus Q2 adjusted earnings.
The earnings miss was accompanied by a cut in full-year guidance for alumina production, citing operational problems at its Pinjarra refinery in Western Australia.
This refinery is one of the company’s largest sources of alumina, making the production cut a significant factor in the company’s revised guidance.