16:12 AA Alcoa sees Q3 EPS of $0.27- $0.31 vs $0.44 consensus (25.90 )
Co expects Q3 EPS of $0.27-$0.31 vs $0.44 consensus. Lower aluminum prices and higher input costs, particularly for energy and raw materials, had a negative impact in the quarter. Seasonal weakness in Europe and automotive markets also lowered profitability. "This quarter, we are squeezed between a weaker upstream pricing environment and significantly higher energy and input costs," said Alain Belda, Chairman and CEO of Alcoa. "We continue to face challenges from escalating costs in energy and raw materials." While metal prices have strengthened somewhat recently, that impact will be reflected in Q4.
Co expects Q3 EPS of $0.27-$0.31 vs $0.44 consensus. Lower aluminum prices and higher input costs, particularly for energy and raw materials, had a negative impact in the quarter. Seasonal weakness in Europe and automotive markets also lowered profitability. "This quarter, we are squeezed between a weaker upstream pricing environment and significantly higher energy and input costs," said Alain Belda, Chairman and CEO of Alcoa. "We continue to face challenges from escalating costs in energy and raw materials." While metal prices have strengthened somewhat recently, that impact will be reflected in Q4.
