looks like buying going on
Alcoa announced a 20% increase in income from continuing operations for the first quarter of 2011 when compared to the fourth quarter of 2010. Net income for the first quarter totaled $308 million, as compared to approximately $250 million for the final quarter of 2010. These figures reflect the highest levels of quarterly incomes since the second quarter of 2008. Revenues similarly increased for the quarter, totaling $6.0 billion - a 5% increase from the previous quarter and a 22% increase in year ago results. These gains were driven by primarily by more favorable pricing for Alcoa's products and increasing demand for aluminum in target markets. Demand for aluminum increased by 13% in 2010 and trends thus far show a 12% growth rate in 2011. Third-party pricing increased by 7% for aluminum and 15% for alumina when compared to the previous quarter. End markets also showed growth for the quarter, namely the automotive industry and commercial transportation.
Alcoa announces a net income of $258 million for the fourth quarter of 2010. These earnings reflect Alcoa's highest growth since the third quarter of FY2008. Revenue similarly increased to $5.7 billion, a 7 percent increase from the previous quarter and a 4 percent increase when compared to year-ago figures. Alcoa finished the quarter off with a 13.8 percent margin for its business operations. Alcoa's annual earnings were similarly positive across the board. Alcoa announced revenue of $21.0 billion for FY2010, a 14 percent increase from FY2009. Earnings and growth were driven primarily by higher prices in the aluminum market; these earnings were offset, however, by higher energy and material costs.
Alcoa announced losses in income for the third quarter of 2010, both when compared to previous quarter earnings as well as year-ago results. Q3 income was $61 million, as compared to $73 million for Q3 FY2009 and $137 million for the second quarter of FY2010. Losses were driven primarily by falling steel prices, namely in lower London Metal Exchange (LME) prices.Revenue, however, increased from $5.2 billion in the previous quarter to $5.3 billion. Revenue also increased by 15% when compared to Q3 FY2009 figures. These increases were driven by higher sales volumes and shipping volumes. The primary metals and flat-rolled products saw decreases in their quarterly incomes as segment prices fell. 10/07/2010 Price: $12.37 Alcoa announced losses in income for the third quarter of 2010, both when compared to previous quarter earnings as well as year-ago results. Q3 income was $61 million, as compared to $73 million for Q3 FY2009 and $137 million for the second quarter of FY2010. Losses were driven primarily by falling steel prices, namely in lower London Metal Exchange (LME) prices.Revenue, however, increased from $5.2 billion in the previous quarter to $5.3 billion. Revenue also increased by 15% when compared to Q3 FY2009 figures. These increases were driven by higher sales volumes and shipping volumes. The primary metals and flat-rolled products saw decreases in their quarterly incomes as segment prices fell.10/07/2010Price: $12.37
Alcoa announced losses in income for the third quarter of 2010, both when compared to previous quarter earnings as well as year-ago results. Q3 income was $61 million, as compared to $73 million for Q3 FY2009 and $137 million for the second quarter of FY2010. Losses were driven primarily by falling steel prices, namely in lower London Metal Exchange (LME) prices. Revenue, however, increased from $5.2 billion in the previous quarter to $5.3 billion. Revenue also increased by 15% when compared to Q3 FY2009 figures. These increases were driven by higher sales volumes and shipping volumes. The primary metals and flat-rolled products saw decreases in their quarterly incomes as segment prices fell.
Alcoa announced a loss of $194 million from continuing operations that is explained in part by a $295 million restructuring plan enacted in this quarter. Despite losses, continuing operations figures increased as compared to both the previous quarter, which posted a loss of $266 million, and the first quarter of 2009, which posted a loss of $480 million. These improvements were driven by increased prices for alumina and aluminum sales.
Alcoa announced an 18% increase in revenues for the fourth quarter of the 2009 fiscal year, culminating at $5.4 billion. Alcoa posted $1.1 billion in cash from operations for the final quarter of 2009, with a free cash flow of $761 million-- the first positive posting since the second quarter of the 2008 fiscal year when the impacts of the economic downturn first began.
Alcoa's announced loss after market close on Monday was bigger than analyst expectation.
The 2008 recession reduced demand for aluminum and led to a deep loss for Alcoa.
Alcoa's 2Q profit sank by 24 due to higher raw material costs, and revenue dropped 6 percent. However, this still beat analyst expectations of even worse.
JPMorgan downgraded Alcoa from overweight to neutral and reduced profit estimates from $2.70 to $2.18.
Alcoa agreed to sell its packaging and consumer businesses, which include Reynolds Wrap, to New Zealand's Rank Group Ltd. for $2.7 billion in cash. The segment generated about $3.2 billion in revenue and $95 million in after-tax operating income in 2006, representing about 10% of Alcoa overall revenue and about 3% of after-tax operating income.
Alcoa stock rises from $33.95 to $35.81 after announcing that it will pursue strategic opportunities for selling some of its packaging and consumer segment which include Flexible Packaging and Reynolds Food Packaging.
Alcoa stock falls from $35.36 to $31.73 after several economic indicators are released that signal declines in transportation orders, aircraft orders and primary metal orders.
Alcoa stock rose from $28.52 to $30.23, after announcing company income and revenue records for 2006.
