Alcoa Kicks Off Earnings Season By Beating Expectations
Alcoa (NYSE:AA), the world’s third-largest producer of aluminum and a Dow Jones Industrial Average component, kicked off earnings season on Monday after the markets closed. The stock closed the day up 1.82 percent, although it gave up nearly all of that gain early in post-market trading.
Here’s a quick breakdown of how Alcoa performed over the past few quarters:
|Mar. 31, 2012||Jun. 30, 2012||Sep. 30, 2012||Dec. 31, 2012||Mar. 31, 2013 Estimate||Mar. 31 2013 Actual|
|Revenue ($) in millions||6,015||5,971||5,817||5,879||5,890||5,833|
|Diluted EPS ($)||0.09||0.00||(0.13)||0.21||0.08||0.11|
“This was a strong quarter led by record profitability in our downstream business, improved results in our midstream business, and remarkable upstream performance in the face of weak metal prices,” commented CEO and Chairman Klaus Kleinfeld.
The company still expects global aluminum demand to grow by 7 percent in 2013. The company commented that it “projects global growth this year across the aerospace (9-10 percent), automotive (1-4 percent), commercial transportation (2-7 percent), packaging (2-3 percent), building and construction (4-5 percent), and industrial gas turbine (3-5 percent) end markets.”