Alcoa reported a profit of income from continuing operations of $137 million or $0.13 per share for their second quarter of 2010. Revenue for the company was up 6% from the first quarter. Alcoa did this despite a lower price of aluminum than in the first quarter. Signs of Alcoa benefiting from the U.S. economy improving are obvious. In many markets Alcoa saw strong revenue growth from the previous quarter with packaging (+17%), commercial transportation (+10%), building and construction (+9%), distribution (+5%), industrial gas turbines (+5%) and aerospace (+5%).
The CEO stated "We improved profits and revenues and maintained our solid cash position,” said Klaus Kleinfeld, Alcoa Chairman and CEO. “The top and bottom line growth was driven by higher volumes from stronger end markets and continued gains from our productivity programs."
Recently Alcoa was trading up 1.4% to $11.02
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