ENP Newswire - 13 January 2014 Release date- 10012014 - Alcoa (Attractive*) posted a Q4 net loss of $2.3bn or $2.19 a share on goodwill charges of $1.7bn from acquisitions dating back to 1998 and 2000. A year earlier, the largest U.S. aluminum producer had reported net income of $242m or 21 cents . Profit excluding the goodwill impairment was 4 cents a share, trailing the 6-cent median market estimate. Q4 sales fell 5.3% to $5.59bn . While Alcoa benefited from solid demand from auto makers, weak demand from the aircraft and packaging industries were a negative. Furthermore, aluminum prices remain low as global supply has outstripped demand for nine years amid surging production in China and the Middle East . Alcoa shares fell 4.4% after markets.
Most Popular Stories
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Quiznos Files for Chapter 11
- Obama Seeks to Stay Neutral in CIA-Senate Conflict
- President Obama Touts Overhaul of Overtime Rules