Alcoa Corporation (AA) Goldman Sachs Global Metals & Mining Conference (Transcript)

Nov. 16, 2022 11:51 AM ETAlcoa Corporation (AA)
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Alcoa Corporation (NYSE:AA) Goldman Sachs Global Metals & Mining Conference November 16, 2022 9:40 AM ET

Company Participants

William Oplinger - Chief Financial Officer

Conference Call Participants

Emily Chieng - Goldman Sachs

Operator

Good morning, everyone, and welcome back to our second fireside discussion of the day. I'm joined now by Bill Oplinger, Chief Financial Officer of Alcoa Corp. Bill, thanks so much for joining us today.

William Oplinger

Thanks for having us.

Emily Chieng

Before we get into Q&A though, I might get you to start off with some opening remarks of the scene. What's aluminum and what's Alcoa looking like these days?

William Oplinger

Sure. So thanks again for inviting us to the conference. It's good to see everybody. I was reflecting this morning that six years ago we were at this conference and it was right when we had started the company and we had spun out of Alcoa Inc. and reflecting over the past six years, it’s amazing what has changed.

And I'm sure many of you who have been following us over the years recognize the fact that six years ago we had close to $4 billion of proportional net debt, they were down to around $1.2 billion, $1.3 billion. The balance sheet has been significantly improved. We're now an investment grade companies. So before when we launched we're DD-. We've done a lot of work around the portfolio and have curtailed and in fact in some places restarted some low cost capacity and just done a lot of work over the last six years, so the company is in significantly better place. It's fun to look back at six years ago being in this conference and we were probably within thirty days of separating out. So it's been a great time.

As far as

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