Alcoa Corp. (AA) Soars 12.6% After 'More-Than-Double' Net Income

We recently published Why These 10 Stocks are Soaring by Double Digits. Alcoa Corp. (NYSE:AA) is one of the best performers on Thursday.

Alcoa Corp. snapped two straight days of losses on Thursday, jumping 12.59 percent to finish at $40.14 apiece, after more than doubling its net income in the third quarter of the year.

In an updated report, Alcoa Corp. (NYSE:AA) said attributable net income climbed by 158 percent to $232 million from $90 million in the same period last year, while revenues inched up by 3 percent to $2.995 billion from $2.904 billion year-on-year.

Despite the strong results, Alcoa Corp. (NYSE:AA) posted a cautious outlook for its business for the rest of the year amid the potential impact of tariffs on its operations as well as inefficiencies at its San Ciprian smelter.

An additional $70 million is expected to be incurred from a $50 million expected increase from aluminum imports from Canada and a $20 million expense from the said smelter.

Alcoa Corp. (NYSE:AA) also maintained its projections for segment production and shipments for both aluminum and alumina operations for the full-year 2025 period.

For aluminum, segment production and shipments are unchanged at a range of 2.3 to 2.5 million metric tons, and 2.5 to 2.6 million metric tons, respectively.

Meanwhile, outlook for alumina segment production and shipments remained at 9.5 to 9.7 million metric tons and 13.1 to 13.3 million metric tons, respectively.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.