Alcoa Corp. (NYSE: AA) delivered a strong fourth-quarter earnings report after the market closed on Jan. 22. The industrials giant delivered a beat on the top and bottom lines with earnings per share (EPS) of $1.26, beating estimates for 95 cents. Revenue of $3.45 billion came in ahead of expectations of $3.28 billion.
However, AA stock dropped about 5% when the market opened on Jan. 23. The sell-the-news reaction could be based on guidance that suggests there will be some near-term pressure on earnings and free cash flow.
