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Article: ALCOA 2ND-QUARTER EARNINGS FALL 24%
- Article from:
- Evansville Courier & Press (2007-Current)
- Article date:
- July 9, 2008
- Author:
CopyrightCopyright 2008 Evansville Courier & Press (2007-Current). Provided by ProQuest LLC. (Hide copyright information)
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PITTSBURGH - Alcoa Inc.'s second-quarter earnings fell nearly 24
percent as higher prices failed to offset the costs of raw
materials, energy and disruptions at several facilities, the
aluminum producer said Tuesday.
The Pittsburgh-based company earned $546 million, or 66 cents per
share, for the quarter that ended June 30, compared with $715
million, or 81 cents per share, during the same period a year
earlier.
Quarterly revenue dropped about 6 percent to $7.6 billion.
Results beat Wall Street estimates. Analysts, on average,
expected profits of 64 cents per share on revenue of $7.36 billion.
Facility disruptions weighed down results by $39 million, Alcoa
said.
They included a natural gas ...