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Alcoa posts $119M 2Q loss on restructuring costs

July 8, 2013 • Business


In this July 5, 2011 photo, Alcoa’s Fjardaal aluminum smelter in Reydarfjordur, Iceland, an environmentally friendly plant that utilizes hydroelectric power, is shown. On Monday, July 8, 2013, Alcoa said its second-quarter loss widened due to weak aluminum prices, although the results are better than expected after backing out restructuring and legal costs. (AP Photo/Mark Lennihan)

DALLAS (AP) — Strong demand for lightweight aluminum in autos and airplanes is helping Alcoa Inc. cope with lingering weak metal prices.

The company said Monday that its second-quarter loss was wider than a year ago. But excluding costs for closing smelters and other restructuring and legal expenses, the results slightly beat Wall Street expectations.

The company stuck to its forecast of 7 percent growth in global aluminum demand this year, led by a roughly 10 percent increase for aerospace.

The shares rose 11 cents, or 1.4 percent, to end regular trading at $7.92 before the quarterly results were released. In Login to read more

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