Alcoa loses $2 million in 2nd quarter
Aluminum manufacturer Alcoa Inc. opened the second-quarter earnings season Monday by posting a $2 million loss. Revenue dropped 9 percent mainly because of weak prices for aluminum in the slowing global economy.
Alcoa posted break-even earnings per share. That compared with 28 cents per share and net income of $322 million a year ago. The results included one-time items of $63 million. Excluding those Alcoa earned $61 million, or 6 cents a share. Revenue totaled $5.96 billion, compared with $6.59 billion a year ago.