ADVFN - Advanced Financial Network.
HOME» NYSE » A » AA Stock Price » AA Stock News

Alcoa Share News

 Alcoa, Inc. Stock Price
AA Stock Price
 Alcoa, Inc. Stock Chart
AA Stock Chart
 Alcoa, Inc. Stock News
AA Stock News
 Alcoa, Inc. Company Information
AA Company Information
 Alcoa, Inc. Stock Trades
AA Stock Trades

Alcoa Swings to 2Q Loss as Aluminum Prices Fall

By Nathalie Tadena Alcoa Inc. (AA) swung to a second-quarter loss as aluminum prices continued to decline and as special items weighed on the aluminum giant's bottom-line results. In the latest period, Alcoa's average realized price for aluminum fell 18% from a year earlier and was down 4.3% from the prior quarter. Shipments of aluminum products increased 2.9%. "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," said Chairman and Chief Executive Klaus Kleinfeld. The company's results have been hurt in recent periods by a decline in aluminum prices--a result of weak demand in Europe, global uncertainties and excessive production--and higher raw-material costs. Alcoa has said it would contend with sluggish aluminum prices by cutting costs, limiting production and relying more on high-margin end products less vulnerable to slumping metal prices, such as bolts and wheels for cars and airplanes. In the latest period, total costs and expenses slipped 1.6%. During the quarter, Alcoa proposed to settle a civil suit by offering a cash payment of $45 million. It estimates an additional possible charge of up to $75 million to settle the suit. Alcoa, an industrial bellwether that unofficially kicks off the U.S. earnings season, posted a loss of $2 million, or less than a penny a share, compared with a year-earlier profit of $322 million, or 28 cents a share. Excluding restructuring charges and other special items, earnings from continuing operations in the latest period were 6 cents a share, down from 32 cents. Revenue slid 9.4% to $5.96 billion. Analysts surveyed by Thomson Reuters predicted a per-share profit of 5 cents and revenue of $5.81 billion. Shares were up four cents at $8.80 after hours. Through the close, the stock has fallen 47% over the past 12 months. Write to Nathalie Tadena at

Stock News for Alcoa (AA)
10/08/201517:10:00Alcoa Profit Falls on Aluminum-Price Slide
10/08/201516:03:00Alcoa Reports Third Quarter 2015 Profit
10/08/201511:43:00Global Stocks Edge Lower as Investors Await Fed Minutes
10/07/201509:33:38Current Report Filing (8-k)
10/07/201509:29:00Alcoa Wins Titanium Contract with Lockheed Martin for F-35 Joint...
10/06/201513:00:00Alcoa Promotes Vas Nair to Executive Vice President, Human Resources...
10/06/201507:30:00Roy Harvey Assumes Leadership of Alcoa’s Global Primary Products G...
10/05/201516:00:00Alcoa Wins $1 Billion Parts Deal With Airbus
10/05/201514:48:08Initial Statement of Beneficial Ownership (3)
10/05/201508:30:00Alcoa Signs Contract with Airbus for High-Tech, Multi-Material...
10/02/201512:19:27Statement of Changes in Beneficial Ownership (4)
10/02/201512:17:05Statement of Changes in Beneficial Ownership (4)
10/02/201512:15:48Statement of Changes in Beneficial Ownership (4)
10/02/201512:08:25Statement of Changes in Beneficial Ownership (4)
10/02/201512:06:59Statement of Changes in Beneficial Ownership (4)
10/02/201512:04:37Statement of Changes in Beneficial Ownership (4)
10/02/201512:03:09Statement of Changes in Beneficial Ownership (4)
10/02/201512:00:54Statement of Changes in Beneficial Ownership (4)
10/02/201511:14:37Initial Statement of Beneficial Ownership (3)
10/01/201508:30:00Alcoa to Host Webcast of Third Quarter 2015 Results

Alcoa and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations