Alcoa reports sharp rise in profits on 8% sales increase
Aluminum producer Alcoa kicked off the third quarter US corporate earnings season overnight, reporting a rise in operating earnings to $245m for the latest three months, versus $8m a year ago.
Alcoa Inc.
$44.02
11:09 15/11/24
6.82%
$2.81
In adjusted terms the company’s earnings per share (EPS) reached 31 cents, in comparison to 11 cents a year earlier, as sales grew 8.2% to $6.24bn.
Analysts had forecast EPS of 23 cents, on revenues of $5.85bn.
The stock closed with gains of 2.43% to $16.46 in after-hours trading.