Alcoa earnings: Another bad quarter, but reason to hope

Filed under: Company News , Earnings Amid dropping demand and falling prices, Alcoa just announced its second consecutive quarterly loss. At a drop of 59 cents per share, it did slightly worse than analyst predictions of between 52 and 58 cents per share. However, its revenues of $4.15 billion were significantly higher than the $4 billion that most analysts predicted. Today’s news, while undoubtedly painful, is hardly surprising. The aluminum giant has already embarked on what it refers to as a “Holistic program

to re-position balance sheet and restore operational costs.” Basically, this has translated into slashing costs, lowering the debt-to-capital ratio, reducing dividends, increasing cash on hand, and raising money with an equity and convertible notes offering. Continue reading Alcoa earnings: Another bad quarter, but reason to hope Alcoa earnings: Another bad quarter, but reason to hope originally appeared on Daily Finance on Tue, 07 Apr 2009 16:20:00 EST. Money.Finance|Finance|Finance

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Alcoa earnings: Another bad quarter, but reason to hope