Automobile Market Recovery Has Alcoa Chugging Along

Shares of Alcoa traded even in after hours trading after the aluminum maker reported second quarter earnings. The company reported adjusted earnings per share of $0.06 for the period. Revenue of $6.0 billion was down 9% from last year’s second quarter. Strong sales offset a decline in metal prices. While many see Alcoa as a global aluminum play, the company is seeing increased demand for aluminum right here in the United States. Automobile manufacturers along with the aerospace industry are seeking out Alcoa’s aluminum to create lightweight vehicles. The increased supply should bode well for Alcoa and other aluminum

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Tagged aa, alcoa, automobile recovery