Alcoa (AA) Starts Q2 Earnings Season: Profit Inline, Sales Beat
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Price: $8.54 -1.73%
Revenue Growth %: -3.0%
Financial Fact:
Research and development expenses: 45M
Today's EPS Names:
TARO, SENEA, UQM, More
Revenue Growth %: -3.0%
Financial Fact:
Research and development expenses: 45M
Today's EPS Names:
TARO, SENEA, UQM, More
Trade AA Now!
The second-quarter earnings season kicked-off quietly Monday as Alcoa (NYSE: AA), always considered the unofficial pace car for the US's major corporate results, reported inline earnings. The stock is ticking very modestly higher in post-market action this afternoon, up about 0.3 percent from the close.
Quarterly sales totaled $5.96 billion, down more than 9 percent from revenue of $6.59 billion in the same quarter last year. Alcoa posted first-quarter 2012 sales of $6 billion. Analysts on the Street were expecting sales of $5.81 billion.
The company posted a $2 million loss, down very sharply from net income of $322 million during the year-ago quarter. Alcoa reported an unadjusted gain of $94 million last quarter. On a per-share basis, the loss rounded to break even. When adjusted for certain items, including restructuring and litigation items, Alcoa reported earnings of 6 cents per share, right inline with Wall Street's estimate.
Alcoa's Klaus Kleinfeld said, "Alcoa maintained revenue strength and solid liquidity by driving high profitability in our mid and downstream businesses and by reducing costs and improving performance in our upstream businesses.
"Although aluminum prices are down, the fundamentals of the aluminum market remain sound with strong demand and tight supply, and Alcoa is successfully capitalizing on accelerating demand in high-growth end markets such as aerospace and automotive."
View Alcoa's full press release to see in depth figures on production within the company's Alumina, Primary, Rolled, and Engineered Products segments.
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Quarterly sales totaled $5.96 billion, down more than 9 percent from revenue of $6.59 billion in the same quarter last year. Alcoa posted first-quarter 2012 sales of $6 billion. Analysts on the Street were expecting sales of $5.81 billion.
The company posted a $2 million loss, down very sharply from net income of $322 million during the year-ago quarter. Alcoa reported an unadjusted gain of $94 million last quarter. On a per-share basis, the loss rounded to break even. When adjusted for certain items, including restructuring and litigation items, Alcoa reported earnings of 6 cents per share, right inline with Wall Street's estimate.
Alcoa's Klaus Kleinfeld said, "Alcoa maintained revenue strength and solid liquidity by driving high profitability in our mid and downstream businesses and by reducing costs and improving performance in our upstream businesses.
"Although aluminum prices are down, the fundamentals of the aluminum market remain sound with strong demand and tight supply, and Alcoa is successfully capitalizing on accelerating demand in high-growth end markets such as aerospace and automotive."
View Alcoa's full press release to see in depth figures on production within the company's Alumina, Primary, Rolled, and Engineered Products segments.
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