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

Editors Pick
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT