The second quarter corporate earnings season kicked off Wednesday afternoon, with numbers from the truck wheel and lightweight metals producer Alcoa Inc. showing mixed results.
Net income totaled $140 million or 10 cents per share, compared to $138 million a year earlier or 12 cents per share (it also increased its number of outstanding shares).
Second quarter 2015 revenue rose to $5.9 billion, from $5.8 billion in second quarter 2014.
Alcoa’s profit missed many analysts' expectations, but it topped revenue estimates, despite a slide in aluminum prices, according to Reuters.
The company said it sees increasing orders in the North American heavy-duty truck and trailer market, and projects 9% to 11% growth for 2015, up from the previous forecast of 6% to 8% percent growth.
In the global heavy-duty truck and trailer market, Alcoa is lowering its projection for the year to a decline of 4% to 6%, from a decline of 2% to 4%, on slower economic growth in Brazil and China.
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