Alcoa Misses EPS Estimates, Beats on Revenue

[Stocks-to-Watch]

Alcoa (AA) didn’t quite live up to the market’s expectations for its earnings report today, but it beat revenue expectations and sees aluminum demand growing.

Alcoa posted a 3-cent-per-share loss, a penny worse than expectations. Revenue of $5.99 billion beat expectations for $5.74 billion. The company said it sees aluminum demand growing this year

“For 2012, we expect global aluminum demand to grow 7 percent and are forecasting a global deficit in primary aluminum supply,” said CEO Klaus Kleinfeld.

“Alcoa’s growth projection is ahead of the 6.5 percent rate required to meet the Company’s forecast of a doubling in global aluminum demand between 2010 and 2020. Aluminum demand grew 10 percent in 2011 on top of 13 percent growth seen in 2010,” the company added.



Original Article Source by Barrons.com