Alcoa Reports 2nd-Quarter Loss On Restructuring Costs

NEW YORK (July 7, 2013)--Alcoa announced Monday that its second-quarter loss widened because of weak aluminum prices, although the results are better than expected after excluding restructuring and legal costs.

The company continues to see strong sales of aluminum products used in automobiles and airplanes.

Alcoa Inc. said Monday that it lost $119 million, or 11 cents per share, in the April-through-June quarter, compared with a loss of $2 million, or break-even on a per-share basis, a year ago.

Excluding special items such as restructuring expenses, Alcoa said it would have earned 7 cents per share, a penny more than analysts expected, according to FactSet.

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