Alcoa, Inc. (NYSE:
AA) reports Q3 earnings of $0.06 versus consensus of $0.06.
Alcoa
, Inc. reports revenues of $5.29 billion versus consensus of $4.95 billion.
"We enhanced our liquidity, improved our balance sheet, and saw strong performance in our mid and downstream businesses," said Klaus Kleinfeld, Alcoa Chairman and CEO. "And despite unfavorable currency shifts and slightly lower metal prices, our upstream businesses continue to make progress.
"We see markets strengthening and have increased our 2010 global aluminum consumption forecast to 13 percent from 12 percent. In countries such as China, Brazil, India, and Russia, more and more people are moving into the middle class, driving demand in building and construction, transportation, and packaging. This trend favors aluminum as it is light, strong, and infinitely recyclable."
Shares of AA are trading higher in the after-hours by 0.66%.