Rusal Quarterly Net Slumps 84% on Weaker Aluminum Prices
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United Co. Rusal, the world’s largest aluminum producer, reported an 84 percent slump in first-quarter earnings as prices of the lightweight metal declined.
Net income dropped to $74 million from a restated $451 million a year earlier, the Moscow-based company said today in a statement. Earnings before interest, tax, depreciation and amortization fell 65 percent to $237 million, missing the $261.8 million average estimate of six analysts surveyed by Bloomberg.