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Alcoa Kicks Off Earnings Season With EPS Beat and Revenue Miss

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Earnings Update: Alcoa (NYSE: AA)

Alcoa reported Q1 earnings per share of $0.28 excluding one-time items, which was above the FactSet estimate for $0.26 and above the year-ago results of $0.09.

Revenues for the quarter were reported at $5.82 billion, which was below the estimate of $5.94 billion.

“First quarter results show our transformation is moving at ongoing high speed and is fully on course,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “We are organically and inorganically broadening our innovative, multi-material value-add businesses, bringing new capabilities and materials to our aerospace and automotive offerings, and taking swift action in the upstream, making it more competitive. We are pulling on all levers to create sustainable shareholder value.” p>

Shares of AA last traded at $13.34, which is down from the last closing price of $13.67.

 


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About the Author

David Moenning is the Chief Investment Officer at Sowell Management Services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 29 years.