The quarterly series in the United States starts off on the wrong foot. The aluminum giant Alcoa, which traditionally inaugurates the accounting season, has published the latest data before the spin-off into two companies and the numbers were lower than market expectations.
In the third quarter, the company posted profits of $166 million, 33 cents a share, versus $44 million, 6 cents a share, in the same period last year.
Excluding exceptional items, Alcoa posted profits of 32 cents a share, less than the 35 cents expected by analysts. Turnover fell by 6% from 5,57 to 5,21 billion, while estimates were for 5,31 billion.
The quarterly, therefore, does not dispel the doubts in view of the spin-off of the aluminum giant into two listed companies, namely Alcoa, which will follow the aluminum and bauxite sector, and Arconic, which will deal with the aerospace and automotive. The two companies will land on Wall Street on November XNUMXst.
In the premarket on Wall Street, Alcoa shares lost 6%.
