Alcoa Looks to Finally Break Metal Shackles as Profit Sinks
- Investors to seek insight into split plans on conference call
- Adjusted earnings to drop more than 90%, analysts estimate
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Alcoa Inc. has an identity problem, and it’s something Chief Executive Officer Klaus Kleinfeld is hoping to finally fix.
For years, the company tried to persuade investors to value it more for its engineering prowess than its exposure to a global metal glut. After all, it now gets more revenue from car, airplane and building parts than from primary aluminum. The stock, though, still trades more like a miner than a manufacturer, losing 26 percent over the past 12 months.