Monday, July 12, 2010

Alcoa (NYSE:AA) Earnings Report Giving First Look at Real Economic Conditions

Alcoa (NYSE:AA) will report after close today their second quarter earnings, which will give the first look at the condition of the global economy, which is expected to be worse than projected.

Even Alcoa has been downgraded by a number of analysts in anticipation of their quarterly earnings, with expectations far below what had been originally estimated.

Most of this in based on lower aluminum demand, and consequently, aluminum prices, as companies and countries have cut back on spending on raw materials during the quarter.

Earnings per share for the quarter is now expected to come in at about $0.10 to $0.12 a share. Revenue for the quarter is projected to be at $5.05 billion.

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