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Dow Jones Newswires: Alcoa earnings, sales beat expectations

Alcoa Corp. reported stronger sales for the third quarter, driven by a rise in aluminum and alumina prices as well as higher premiums for value-add products.

The aluminum maker said net income attributable to the company was $337 million, compared with a loss of $49 million from the year-earlier period. Per-share earnings amounted to $1.76, swinging from a per-share loss of 26 cents.

Alcoa’s
AA,
+0.41%

adjusted profit was $2.05 a share, pulling ahead of analysts’ expectations of $1.76 a share for that metric.

Alcoa said sales increased to $3.11 billion from $2.37 billion over last year, topping analysts’ consensus estimate of $2.93 billion.

Write to Kimberly Chin at [email protected]

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