U.S. aluminum giant Alcoa Inc. kicked off the fourth-quarter earnings-reporting season with a negative note, announcing quarterly results that fell short of market expectations.
Shortly after the closing bell, the Pittsburgh-based company reported a fourth-quarter profit from continuing operations, excluding one-time restructuring and other charges, of 1 cent (U.S.) a share. Analysts surveyed by both Bloomberg and Thomson Reuters had a consensus estimate of 6 cents a share.
Including the charges, the company lost 27 cents a share in the quarter.
David Parkinson