Alcoa Net May Drop as Dollar Offsets Metal Price Gain
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Alcoa Inc., the largest U.S. aluminum producer, may post a 29 percent drop in third-quarter profit after a weaker dollar raised costs in Europe, Australia and Brazil, offsetting an increase in the price of the metal.
Alcoa will today report earnings excluding some items of 5 cents a share, according to the average estimate of 16 analysts surveyed by Bloomberg. The company posted a 7-cent profit a year earlier.