Alcoa beat adjusted profit-per-share estimates, but missed sales estimates and its adjusted operating-profit measure fell from the prior quarter. Expected production growth and tight supply are balanced by lower aluminum shipments and higher costs, leaving its business prospects little changed.
The results point in different directions. Alcoa beat estimates for adjusted profit per share, but missed sales estimates and its adjusted operating-profit measure fell. Expected production growth and tight aluminum supply may help, but lower shipments and added costs limit what can be concluded.
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