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Alcoa Misses on Profit, Revenue; Stock Slips Postmarket

Investing.com

By Kim Khan

Investing.com - Aluminum giant Alcoa (NYSE:AA) slipped in after-hours trading Wednesday after the company missed on the top and bottom lines in its latest quarterly results.

Shares of Alcoa (NYSE:AA) fell 2.2% postmarket.

The company, once the unofficial curtain-raiser of earnings season, reported a fourth-quarter loss of 31 cents per share on revenue of $2.49 billion.

On average, analysts were predicting a loss of 22 cents a share on revenue of $2.48 billion, according to forecasts compiled by Investing.com.

Looking to the first quarter, Alcoa (NYSE:AA) said it see lower results in its buaxite segment due to lower prices and seasonality, Briefing.com reported. In the aluminum segment, performance is expected to be flat.

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For the year, the company said it sees aluminum supply exceeding demand by as much as 1 million metric tons.

Shares of the company are down more than 30% in the past year.

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