Alcoa Earnings More Than Double on Sales

Alcoa Inc.'s (AA) second-quarter earnings more than doubled as improving sales and prices offset higher raw material costs.

Alcoa said Monday that its net income totaled $322 million, or 28 cents a share, in the April-to-June quarter. That compared with net income of $136 million, or 13 cents share, a year ago.

Revenue totaled $6.59 billion compared with $5.19 billion in the previous second quarter.

Analysts surveyed by FactSet expected earnings of 33 cents per share on revenue of $6.3 billion.

Alcoa says it saw double-digit growth in sales to the packaging, building and construction and commercial transportation industries.

Improved sales were offset by higher costs for raw materials and a weak dollar.

Alcoa's performance can reflect economic trends because its products reach across a broad range of businesses.

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Michael McDonald

July 23 2011 at 12:16 AM Report abuse rate up rate down Reply