The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
Cortesía de Investing.com

Agenda Macro

Calendario económico en tiempo real proporcionado por Investing.com España.

Alcoa swings to profit on lower expenses : Report

By Kristin Jones
Alcoa Inc. swung to a fourth-quarter profit as the aluminum giant benefited from cost-cutting efforts, though revenue edged down as aluminum prices remained low
The company’s average realized price for aluminum decreased 2.1% from a year earlier, but increased 4.6% from the prior quarter
Shipments of aluminum products were flat from a year earlier and declined 2.8% from the prior quarter
Alcoa’s recent results have been hampered by persistently low aluminum prices — due in part to weak demand in Europe as well as excessive production
As a result, the company has cut production over the past year, while shifting its focus to higher-margin products less vulnerable to slumping metal prices, like bolts and wheels for cars and airplanes
Moody’s Investors Service last month placed Alcoa’s credit rating on watch for a possible downgrade to junk, saying low aluminum prices have hurt the company’s debt-protection measures
The latest period included a gain of $178 million primarily linked to the sale of Tapoco Hydroelectric Project assets
Alcoa, an industrial bellwether that unofficially kicks off the quarterly earnings season in the U.S., posted a profit of $242 million, or 21 cents a share, compared with a year-earlier loss of $191 million, or 18 cents a share
Excluding restructuring charges, discrete tax items and other special items, earnings from continuing operations in the latest period were six cents a share, compared with a loss of three cents a year ago
Revenue edged down 1.5% to $5.9 billion
Analysts surveyed by Thomson Reuters were expecting per-share earnings of six cents on revenue of $5.6 billion
Total costs and expenses fell 12% to $5.5 billion
Looking ahead to the current year, company said it expects global aluminum demand to grow 7% in 2013, compared with 6% in 2012

No hay comentarios: