logo
Share SHARE
FONT-SIZE Plus   Neg

Alcoa Q1 Profit Falls - Quick Facts

Alcoa Inc. (AA: Quote) 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

Editors Pick
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
comments powered by Disqus
RELATED NEWS
Trade AA now with 
Follow RTT