Alcoa earnings projected to drop

Analysts are looking for decreased profit for Alcoa when the company reports its results for the first quarter on Tuesday, April 8, 2014. Alcoa reported profit of 11 cents a year ago, but the consensus estimate calls for earnings per share of four cents this time around.

Over the past month the consensus estimate has gone up, from four cents, but it’s the same as the estimate from three months ago. Analysts are projecting earnings of 37 cents per share for the fiscal year. Analysts look for revenue to decrease 5% year-over-year to $5.56 billion for the quarter, after being $5.83 billion a year ago. For the year, revenue is expected to come in at $23.05 billion.

Over the last four quarters, the company saw a year-over-year drop in revenue by an average of 3%. The biggest fall was in the most recent quarter, when it fell 4% from the year-earlier quarter.

Alcoa is a global producer of aluminum. It is mainly engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. It is actively involved in a range of industries, including technology, mining, smelting, and recycling.

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