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Alcoa Kicks Off 2010 Q2 Earnings Season On A Bright Note

Jul 12, 2010 Earnings, Stock to watch

Alcoa (AA) kicked off the second quarter earnings season by reporting better than expected Q2 earnings that beat by a penny per share. For the period, which ended June 30, the company reported a profit of $136 million, or $0.13 per share, compared to analysts’ expectation of a profit of $0.12 per share. Alcoa credited lower energy costs, improved productivity and stronger sales for its improved earnings picture. In the year ago period, Alcoa reported a loss of $454 million, or $0.47 per share.

Sales for the period rose twenty-two percent to $5.18 billion, compared to sales of $4.24 billion in the second quarter period last year, as a result of a four percent increase in aluminum shipments as well as a one percent rise in third-party prices for alumina.

The company’s improved financial picture is also partly due to a restructuring the company undertook last year, that saw it cut 13,500 jobs.

In after hours on Monday, Alcoa shares rose to $11.30, from a close of $10.87.

Tags: alcoa, earnings season

Alcoa Kicks Of 2010 Q1 Earnings Season

Apr 12, 2010 Company News, Earnings

Aluminum producer Alcoa (AA), which is usually the first of the large cap companies with a January to December fiscal year, kicked off the 2010 Q1 earnings season after the bell today.

For the period, Alcoa reported revenues of $4.9 billion and loss from continuing operations of $194 million, or $0.19 on a per share basis. Total net loss for the period was $201 million, or $0.20 per share.

Restructuring and special charges of $295 million, or $0.29 per share, was a major factor in the reported loss.

Excluding the special charges, Alcoa would have reported a profit of $0.10 per share, which was right in line with Wall Street analysts’ consensus estimates of $0.10 per share, on $5.23 billion in revenues.
Earnings before interest, taxes, depreciation and amortization (EBITDA), was $596 million, the company’s highest since the third quarter of 2008.

For the period, the company also announced that it was able to realize an 8% increase in the prices it received for aluminum, and a 13% increase in the price of alumina.

In the Q1 period of 2009, Alcoa reported revenues of $4.14 billion and a loss of $497 million, which translated into a loss of $0.61 on a per share basis.

Tags: alcoa, earnings season