Alcoa Posts $143 Million Loss; Revenue Tops Estimates

(October 9, 2012)--Aluminum manufacturer Alcoa Inc. said Tuesday it lost $143 million in the third quarter because of charges, but otherwise topped Wall Street's expectations.

Alcoa said Tuesday that the loss amounted to 13 cents per share, which compares with net income of $172 million, or 15 cents a share, a year ago.

But excluding $175 million in charges, Alcoa earned $32 million, or 3 cents per share.

Analysts predicted break-even results on a per share basis.

Revenue fell to $5.83 billion from $6.42 billion, but still topped analyst forecasts.

Alcoa has been challenged by the global manufacturing slowdown, which hurt aluminum demand.

Alcoa is the first company in the Dow Jones industrial average to report earnings.

Investors often watch its results for signs of how earnings may unfold for other companies


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