Alcoa closed the third quarter of 2015 with to evaluate for 44 million dollars, a sharp decrease compared to 149 million in the same period last year. The aluminum giant communicated this yesterday evening after the markets were closed, which – as per tradition – kicked off the US quarterly season.
As for the turnover, the drop was 11%, to 5,57 billion. Both profits and revenues were lower than expected: the two cents of earnings per share disappointed forecasts by as much as 13 cents, while the turnover had been forecast at 5,65 billion.
Alcoa is in transition: next year will split into two separate companies: one for the production of aluminum and the other for activities with higher added value in materials and components for the aeronautical and automotive industries.
While awaiting the turning point, however, the business was held back by the weakness of the global economy and the raw material, especially due to the setbacks of the China which drove the demand.
The prices ofaluminum they've lost 14% year-to-date. Alcoa stock is down 30% from January to today, and yesterday, in the post-market, it was down another 5%.
