Alcoa’s Second-Quarter Income Climbs 14 Percent
July 9, 2005
Alcoa Inc., one of the world’s largest aluminum producers, said yesterday that its second-quarter profit rose 14 percent. Results were boosted by its sale of an interest in a Norwegian metals business and tax benefits.
The company earned $460 million, or 52 cents per share, in the three months that ended June 30, up from $404 million, or 46 cents per share, a year ago.
Sales rose 13 percent to $6.76 billion. Alcoa said sales growth was driven by higher volumes and its acquisition of fabricating facilities in Russia.
Analysts surveyed by Thomson Financial expected profit of 45 cents per share on sales of $6.64 billion for the April-June period.
Alcoa is a major Richmond area employer.