Alcoa Sails Past Q3 Street Estimates on Top and Bottom Lines
Alcoa posted third quarter earnings of $0.31 a share on revenue of $6.24 billion. Wall Street analysts were looking for $0.23 on sales of $5.85 billion.
Alcoa posted third quarter earnings of $0.31 a share on revenue of $6.24 billion. Wall Street analysts were looking for $0.23 on sales of $5.85 billion. Last year, Alcoa earned $0.11 per share on revenue of $5.76 billion. As for details, the company’s Engineered Products and Solutions division delivered the highest after-tax operating income in Alcoa history at $209 million. They also posted a new record adjusted EBITDA margin of 23.5%. Upstream business improved performance for the 12th consecutive quarter. Global aluminum demand growth forecast of 7% in 2014 was also reaffirmed. TheStreet's Gregg Greenberg has details from New York.
