Alcoa (NYSE:AA) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Alcoa announced earnings per share of $-0.23 on revenue of $2.38B. Analysts polled by anticipated EPS of $-0.24 on revenue of $2.37B. That with comparison to EPS of $-0.23 on revenue of $2.72B in the same period a year before. Alcoa had reported EPS of $-0.31 on revenue of $2.44B in the previous quarter. Analysts are expecting EPS of $-0.38 and revenue of $2.33B in the upcoming quarter.
Alcoa shares are down 64.9% from the beginning of the year , still down 73.89% from its 52 week high of $28.92 set on April 23, 2019. They are under-performing the EUR/USD which is down 0% year to date.
Alcoa shares gained 1.46% in after-hours trade following the report.
Alcoa follows other major Basic Materials sector earnings this month
Alcoa's report follows an earnings beat by Akzo Nobel ADR on Wednesday, who reported EPS of $0.26 on revenue of $2.24B, compared to forecasts EPS of $0.25 on revenue of $2.27B.
Dover had beat expectations on Tuesday with first quarter EPS of $1.39 on revenue of $1.66B, compared to forecast for EPS of $1.21 on revenue of $1.68B.
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