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Earnings Analysis: 
Alcoa Net Falls 54%
Author: 123jump.com Staff
123jump.com
Last Update: 3:01 PM EDT April 08 2008

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Despite strong performance in the three of the four business segments revenues for the first quarter remained flat at $7.4 billion. During the first quarter, the company’s capital expenditures rose to $748 million as the company funded new projects such as the new Juruti bauxite mine and Sao Luis refinery in Brazil, including the strategic investment with Chinalco in Rio Tinto plc and the acquisition of two aerospace fastening companies.

 
Operating income in the first quarter edged up 82% or $62 million at $138 million from the previous quarter as a result of the restructure of the automotive business, productivity improvements and strong demand in the the aerospace and IGT markets continue that continued to spur volumes.


The company repurchased 14 million shares in the quarter and debt to capital ratio was 31.5% and return on capital for the trailing four quarters was 10.7%.
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