While there is no doubt Alcoa (NYSE:AA) will show some improvement over last year when they release their quarterly numbers on Monday, as the day approaches a number of analysts have downwardly revised earnings forecasts as the price of aluminum continues to fall.
Just since April, when aluminum prices had stood at $2,400 a ton, they have plummeted to close to $2,000 a ton as of Friday.
That's significant because it happened in the third quarter, which will have a strong impact on the performance of Alcoa during that time.
Most analysts had Alcoa's earnings at between 15 cents to 19 cents a share, and that has fallen largely to 10 cents to 12 cents a share recently, with many believing they'll start losing money as the year goes on.
Over the next twelve months or so there isn't a lot of optimism about aluminum prices moving up, and that will mirror how Alcoa performs.
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