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Alcoa 2Q earnings more than double on sales

Alcoa 2Q earnings more than double on sales

Alcoa Inc.'s 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.


Updated : 2021-06-16 07:05 GMT+08:00