Alcoa Heads to Highest Profit in 2 Years on Aluminum
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Alcoa Inc., the largest U.S. aluminum producer, may post its highest earnings in nine quarters after the commodity’s price neared levels last seen before the bankruptcy of Lehman Brothers Holdings Inc. in 2008.
The company will report fourth-quarter net income of 19 cents a share after trading today, compared with a 28-cent loss a year earlier, according to the average of 15 analysts’ estimates in a Bloomberg survey. That would be the New York-based company’s biggest profit since the third quarter of 2008, when commodity prices began to tumble.