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Aluminum Maker Alcoa Will Start 2Q Earnings Season
Edited by : AL CIRCLE
1 min read
Signs that Alcoa benefited from more sales of aluminum at higher prices as it coped with rising energy and raw materials costs. Some of its customers were also affected by the aftermath of Japan's earthquake and tsunami in March.
The aluminum manufacturing giant, based in Pittsburgh, has seen steady gains in sales as business has improved for key customers such as the aerospace, automobile and industrial gas turbine industries. For the year, it has forecast a 12 percent increase in global aluminum demand.
The March crisis in Japan caused a disruption in the flow of parts for a number of industries that Alcoa serves but that appears to be easing. U.S. businesses ordered more airplanes, autos and oil-drilling equipment in May after a sluggish spring, and June auto sales rose 7 percent.
Aluminum prices also improved during the quarter. Dahlman Rose & Co. analyst Anthony Rizzuto expects Alcoa to report a 6-cent-per-pound increase in the average realized price for aluminum.
The aluminum manufacturing giant, based in Pittsburgh, has seen steady gains in sales as business has improved for key customers such as the aerospace, automobile and industrial gas turbine industries. For the year, it has forecast a 12 percent increase in global aluminum demand.
The March crisis in Japan caused a disruption in the flow of parts for a number of industries that Alcoa serves but that appears to be easing. U.S. businesses ordered more airplanes, autos and oil-drilling equipment in May after a sluggish spring, and June auto sales rose 7 percent.
Aluminum prices also improved during the quarter. Dahlman Rose & Co. analyst Anthony Rizzuto expects Alcoa to report a 6-cent-per-pound increase in the average realized price for aluminum.
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