Alcoa shines

Alcoa's Q2 Earnings Top, Turn to Profit

Excerpt:

Alcoa Inc. (AA) swung to a profit in the second quarter of 2014 on strong results from its downstream and primary metals businesses, aided by higher aluminum pricing. The results in the legacy primary metals business were driven by solid aluminum demand. The U.S. aluminum giant raked in a profit of $138 million or 12 cents per share in the second quarter compared with a loss of $119 million or 11 cents per share in the year-ago quarter and a loss of $178 million or 16 cents per share in first-quarter 2014. Alcoa recorded $78 million in restructuring charges and other special items in the quarter. Restructuring actions were mostly related to reduction of costs in the commodity business. Excluding one-time special items, earnings came in at $216 million or 18 cents per share in the reported quarter, ahead of the year-ago earnings of $76 million or 7 cents per share. Earnings per share also surpassed the Zacks Consensus Estimate of 13 cents.

Comment: Image source. The 2015 F-150 will have an aluminum body. GM Wants Aluminum Pickups by 2018.