logo
Share SHARE
FONT-SIZE Plus   Neg

Alcoa Q1 Profit Falls - Quick Facts

Alcoa Inc. (AA) reported that its first quarter 2012 net income attributable to the company was $94 million, or $0.09 per share, down from $308 million, or $0.27 per share in first quarter 2011.

Excluding the impact of special items, income from continuing operations for the latest-quarter was $105 million, or $0.10 per share. Special items in first quarter 2012 included the negative impact of mark-to-market changes on certain energy contracts and restructuring charges primarily related to smelter curtailments. Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter rose to $6.01 billion from $5.96 billion in the prior year quarter. Twelve analysts had consensus revenue estimate of $5.77 billion for the quarter.

Alcoa said that it continues to project a global aluminum supply deficit in 2012 and reaffirmed its forecast that global aluminum demand would grow 7 percent in 2012, on top of the 10 percent growth seen in 2011.

Alcoa raised its 2012 global growth forecast for the aerospace market 3 percentage points (13-14 percent).

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Theme park chain Six Flags Entertainment Corp. (SIX) announced that it is in "discussions" with the Kingdom of Saudi Arabia to open multiple amusement parks in the conservative Muslim kingdom. Texas-based Six Flags Entertainment says it "has initiated discussions with the government of Saudi Arabia... Uber has developed new software that will track and inform drivers of the ride-hailing app about things like sudden acceleration, harsh braking or whether they are holding their phones while driving. The software is part of an updated version of Uber's app for drivers. One third of its PlayStation Plus users pay for games, Sony revealed on Wednesday.
comments powered by Disqus
Follow RTT