Related: Alcoa Swings to Profit, Predicts Aluminum Wheel Market Growth
Alcoa Reports Higher Profit
The second quarter corporate earnings season kicked off Wednesday afternoon, with numbers from the truck wheel and lightweight metals producer Alcoa Inc. (AA) showing mixed results.
Evan Lockridge・Former Business Contributing Editor
1 min to read
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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