Alcoa Posts Q2 Profits Above Forecasts

Pittsburgh, PA (AHN) - Alcoa reported second quarter earnings Tuesday that beat estimates as the aluminum maker saw profits rise in all four of its operating divisions.

The company reported earnings of $546 million or 66 cents a share on revenue of $7.6 billion compared with $715 million or 81 cents a share the same period a year earlier.

Analysts were expecting 64 cents a share on revenue of $7.23 billion, according to Reuters' estimates.

"Higher prices for our products and increased volumes more than offset the increased input costs facing the entire industry," Klaus Kleinfeld, Alcoa chief executive officer, said in a statement, according to MarketWatch.

Profit increases were strongest in the company's primary metals and flat rolled products, up 39 percent and 34 percent, respectively.

Second quarter results include a $39 million charge for a pipeline explosion in western Australia and power disruption in Texas.

Shares of Alcoa were 3 percent higher in after-hours trading.