Boston Herald - Boston Herald: Alcoa posts $119M 2Q loss on restructuring costs

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Boston Herald - Boston Herald

Alcoa posts $119M 2Q loss on restructuring costs Jul 8th 2013, 22:53, by By Associated Press, Associated Press DALLAS — Strong demand for lightweight aluminum in autos and airplanes is helping Alcoa Inc. cope with lingering weak metal prices. The company said Monday that its second-quarter loss was wider than a year ago. But excluding costs for closing smelters and other restructuring and legal expenses, the results slightly beat Wall Street expectations. The company stuck to its forecast of 7 percent growth in global aluminum demand this year, led by a roughly 10 percent increase for aerospace. Media files: Alcoa's Fjardaal aluminum smelter in Reydarfjordur, Iceland, an environmentally friendly plant that utilizes hydroelectric power, is shown. On Monday, July 8, 2013, Alcoa said its second-quarter loss widened due to weak aluminum prices, although the results are better than expected after backing out restructuring and legal costs. (image/jpeg)

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