Alcoa Profit Tops Estimates as Autos Drive Aluminum Use
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Alcoa Inc., the largest U.S. aluminum producer, posted better-than-expected fourth-quarter earnings and sales as orders from the auto and aerospace industries boosted demand for the lightweight metal.
Profit excluding one-time items was 33 cents a share, the New York-based company said today in a statement, exceeding the 27-cent average of 19 estimates compiled by Bloomberg. Sales rose 14 percent to $6.38 billion, compared with the $6.05 billion average estimate. The shares rose as much as 2.4 percent in extended trading.