Alcoa misses revenue, which prints at $5.96 billion: a $100 million miss to consensus. EPS in line with GAAP expectations of $0.28. EBITDA (cash flow proxy) of $955 million misses by a major $60 million. CapEx of $204MM is massively lower than consensus of $475MM (granted from one analyst): capital spending continues to be latent.
From the PR:
best since second quarter 2008, up 20 percent over fourth quarter 2010
and a $503 million turnaround compared to first quarter 2010
special items of $8 million, or $0.01 per share, of $0.28 per share
2010, up 60 percent compared to first quarter 2010 and best since
third quarter 2008
percent over fourth quarter 2010 and best revenue since third quarter
packaging, automotive, commercial transportation and industrial
Results out momentarily. In the meantime here is what Wall Street is looking for:
- Revenue: $6.061 billion
- EBITDA: $1.015 billion
- EPS: $0.27
- CapEx: $475MM
And the AA/Alumina curve, showing the stock is 1 standard deviation rich.