Alcoa (NYSE:AA) officially kicks off earnings each reporting season. And what a dandy of a report Alcoa just gave. I dare to say, it may even reverse the trend of a downward market. For those who are unfamiliar with this bellwether company, Alcoa produces and manages primary aluminum, fabricated aluminum, and alumina. The company’s main competition is the Aluminum Corp. of China (NYSE:ACH).
Shareholders of Aluminum Corp. of China should take note of this report, because it bodes well for the company. Like Aluminum Corp. of China, Alcoa is a metals company. The company operates in four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions. The Alumina segment is engaged in mining of bauxite, which is then refined into alumina. The Primary Metals segment produces aluminum. The Global Rolled Products segment produces and sells aluminum plate, sheet, and foil.
The Engineered Products and Solutions segment produces and sells titanium, aluminum, and super alloy investment castings; fasteners, aluminum wheels, integrated aluminum structural systems, architectural extrusions, and hard alloy extrusions. Its products are used in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications. The company has operations primarily in the United States, Australia, Spain, Brazil, France, the Russian Federation, Hungary, the Netherlands, Norway, the United Kingdom, China, Germany, and Italy. Just how good was the report?