Stock Track | RUSAL Plummets 10.33% Intraday After Reporting $787 Million Net Loss
Stock Track
Mar 19
RUSAL's stock plummeted 10.33% during intraday trading on Thursday, following the release of its annual financial results.
The company reported an adjusted net loss of $787 million for the year, swinging from a profit in the same period last year. Despite revenue increasing by 22.6% year-over-year to $14.812 billion, the net loss and a 1.9% decline in primary aluminum output weighed on investor sentiment.
The average realized aluminum price increased by 5.2% to $2,652 per ton, driven by higher London Metal Exchange settlement prices, but this was partially offset by a significant decrease in the average realized premium.
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