Alcoa Posts Better-Than-Expected Profit, Sees Demand Rising

Alcoa Posts Better-Than-Expected Profit, Sees Demand Rising

(Bloomberg) -- Alcoa Corp. reported second-quarter earnings that beat analysts’ expectations, with the producer boosting its forecast for aluminum shipments this year as reopening economies lift demand for everything from washing machines to beer cans.

The biggest U.S. aluminum producer reported earnings before interest, taxes, depreciation, and amortization of $618 million, higher than the $599.8 million average of analysts’ estimates compiled by Bloomberg. The company expects 2021 aluminum shipments of 2.9 million to 3 million tons, up from its earlier forecast of as much as 2.8 million, according to a statement Thursday.