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Alcoa posts $2.3 billion 4Q loss on write-downs

January 9, 2014 • Business


This is the Alcoa headquarters building in Pittsburgh, Thursday, Jan. 9, 2014. Alcoa Inc. was dragged to a $2.34 billion loss in the fourth quarter of 2013 on big write-downs for old acquisitions of smelting operations and other one-time items. Low aluminum prices also hurt. A year earlier, the company earned $242 million. (AP Photo/Gene J. Puskar)

DALLAS (AP) — Alcoa Inc. reported a $2.34 billion fourth-quarter loss on Thursday as low aluminum prices caused it to write down the value of acquisitions made more than a decade ago.

Without the huge charges, the company posted an adjusted profit that still fell short of Wall Street expectations. Its 5 percent revenue decline was less Login to read more

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