Alcoa is holding to its full-year forecast of 9-10% growth in global aerospace demand for aluminium, as third-quarter performance pulled the US metal producer back into the black despite falling prices.
For the quarter, revenue held steady at $5.8 billion, level with the second quarter and the year-ago period, despite a 3% sequential and 7% year-on-year decline in the London Metal Exchange cash price of aluminum.
Including a $109 million after-tax restructuring-related charge, third-quarter net income was $24 million, compared with a net loss of $119 million in the second quarter and a net loss of $143 million in 2012's third quarter.
Source: FlightGlobal.com
