Revenue, however, did not meet market expectations, as did adjusted earnings. In addition, Alcoa lowered its annual forecast for alumina production due to problems at the Australian facility.
According to the company's press release, net income in April-June was $407 million, or $1.53 per share, compared with $164 million, or $0.62 per share, for 2.0%. One-time factors rose to $2.12 per share from $0.39 per share a year earlier, but turned out to be worse than the consensus forecast of analysts polled by FactSet at $2.25 per share.
Quarterly revenue rose to $3.97 billion from $3.02 billion.
Alumina production in the second quarter decreased by 6% compared to the same period last year, to 2.218 million tons. Aluminum production increased by 11% to 636 thousand tons. The deterioration in forecasts is due to a reduction in production at its Australian facility, in particular, due to unstable energy supplies. 2.4-2.6 million tons, supplies – 2.6-2.8 million tons.
The company's shares fell 2.8% in additional trading on Thursday. Since the beginning of this year, their cost has decreased by 12%
