12.07.2016 - Alcoa opened the season of corporate reporting
Publication of Alcoa’s report opened the corporate reporting season in the US. In the second quarter the company earned 135 million dollars, compared to 140 million dollars over the same period last year. Revenues compared to the last year declined by 10% to 5.3 billion dollars. The reason for the deterioration in performance was the decline in the aluminum and raw material prices. The company also announced that they intend to get 1.2 billion dollars this year from the sale of its assets. Given the steady growth in demand for aluminum and the improvement forecasts for prices on it in the long run, we expect price growth by 25-30% for the year despite a possible decline in the coming months.