Alcoa (AA) announced its results for the second quarter on July 9, 2012.
Earnings and Revenue
The company's EPS fell in line with analyst expectations of 6 cents a share while quarterly revenue of $6.01 billion topped estimates of $5.81 billion. The estimates of 15 analysts ranged from profit of 2 cents to profit of 12 cents.
The company's net loss for the quarter was $2 million. Revenue fell 8.8% from $6.58 billion in the same period last year.
Company Fundamental Trends
Last quarter's net loss comes after the company reported a profit of 16 cents a share in the quarter prior. Slumping revenue in the last quarter ends the company's streak of at least four consecutive quarters of revenue increases.
History Against Expectations
The company fell in line with estimates last quarter after topping forecasts in the previous quarter. It reported net income of 10 cents versus a mean estimate of a loss of 4 cents per share.
"Alcoa maintained revenue strength and solid liquidity by driving high profitability in our mid and downstream businesses and by reducing costs and improving performance in our upstream businesses," said Klaus Kleinfeld, Chairman and CEO. "Although aluminum prices are down, the fundamentals of the aluminum market remain sound with strong demand and tight supply, and Alcoa is successfully capitalizing on accelerating demand in high-growth end markets such as aerospace and automotive."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.