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Alcoa Q3 net income $120 million

Staff writer ▼ | October 10, 2013
Alcoa reported a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, in spite of lower metal prices.
Alcoa
AlcoaAlcoa reported a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, in spite of lower metal prices.


Alcoa reported third quarter 2013 net income of $24 million, or $0.02 per share, which includes $96 million of special items primarily tied to optimizing the Company’s upstream portfolio.

Excluding the impact of special items, net income was $120 million, or $0.11 per share. Results were led by continued strength in Engineered Products and Solutions and Global Rolled Products, despite traditional third quarter weakness.

Global Primary Products overcame falling metal prices and lower premiums to deliver significant performance improvement through productivity gains.

The Company reported third quarter 2013 revenue of $5.8 billion, steady compared to second quarter 2013 and the year ago period, despite a 3 percent sequential and 7 percent year-over-year decline in the London Metal Exchange (LME) cash price of aluminum.


 

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