Edited Transcript of Alcoa Q4 2014 Earnings Conference Call…
Alcoa Inc. (NYSE:AA) hosted a conference call with investors and analysts to discuss Q4 2014 earnings results on January 12, 2015 at 5:00 p.m. ET. The following are the webcast audio and the associated transcript of the event…
Operator: Good day ladies and gentlemen and welcome to the fourth quarter 2014 Alcoa earnings conference call. My name is Tia and I will be your operator for today. As a reminder, today’s conference is being recorded for replay purposes.
I would now like to turn the conference over to your host for today, Ms. Kelly Pasterick, Vice President of Investor Relations. Please proceed.
Kelly Pasterick – Director, IR
Thank you, Tia. Good afternoon and welcome everyone to Alcoa’s fourth quarter 2014 earnings conference call. I’m joined by Klaus Kleinfeld, Chairman and Chief Executive Officer; and William Oplinger, Executive Vice President and Chief Financial Officer. After comments by Klaus and Bill, we will take your questions.
Before we begin today, I would like to remind you that today’s discussion will contain forward-looking statements relating to future events and expectations. You can find factors that could cause the company’s actual results to differ materially from these projections listed in today’s press release and presentation and in our most recent SEC filings.
In addition, we have included some non-GAAP financial measures in our discussion. Reconciliations to the most directly comparable GAAP financial measures can be found in today’s press release, in the appendix of today’s presentation and on our website at www.alcoa.com under the Invest section. Any reference in our discussion today to EBITDA means adjusted EBITDA for which we’ve provided calculations and reconciliations in the appendix.
And with that, I’d like to turn it over to Klaus Kleinfeld.
Klaus Kleinfeld – Chairman and CEO
Well, thank you Kelly and welcome everybody on the phone. So let me in the usual fashion summarize this quarter for you. I would say the transformation is delivering results, profitability is up year-over-year.
So talking about the operational performance, I think there is only one word: strong operational performance, starting with the downstream 19th consecutive quarter year-over-year profit growth, that’s excluding Firth Rixson midstream, profitability up substantially, more than 200%; upstream, improved performance 13 consecutive quarters.