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
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT