Alcoa Reports 1Q 2010 Results

by ALCOA 13 Apr 09:35

Loss from continuing operations of $194 million, or $0.19 per share, including restructuring and special charges.
Restructuring and special charges total $295 million, or $0.29 per share.
Strong EBITDA performance of $596 million, highest since 3rd quarter 2008.
Realized aluminum and alumina prices increase 8 and 13 percent, respectively, from 4th quarter 2009.
Revenues of $4.9 billion; higher realized prices offset by normalized buy/re-sell activity, lower shipments, and actions to improve long-term profitability in rigid packaging.
Cash Sustainability Program drove $86 million in productivity.
Debt-to-capital ratio improved to 38.1 percent, 60-basis-points better sequentially.
Cash on hand of $1.3 billion at end of 1st quarter.
Net loss for 1st quarter 2010 of $201 million, or $0.20 per share.

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