(News Bulletin 247) – Alcoa reduced its losses in the first quarter, thanks in particular to the rise in the selling prices of its metals, which allowed the title to gain ground on Wall Street on Thursday.
Over the first three months of the year, the net loss of the American aluminum producer amounted to 41 million dollars, or 0.23 dollars per share, compared with a loss of 144 million (0.82 dollars per share) in the previous quarter.
Profit from continuing operations – which excludes charges – also improved, to +240 million dollars against a profit of only $29 million at the end of the fourth quarter.
Its turnover remained stable overall, around 2.7 billion dollars, the strength of the prices of aluminum and alumina having neutralized the impact of the drop in its production.
The Pittsburgh group says it has also benefited from the decline in energy prices in Europe.
But he had to register a charge of 101 million dollars for the closure of the Intalco foundry, in the northeast of the United States, not to mention the 47 million dollars in compensation linked to its Spanish factory in San Ciprián. , which also closed.
Following this publication, Alcoa shares rose 1.9% Thursday morning in New York, but still showed a decline of around 8% since the start of the year.
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