BofA/Merrill Lynch Downgrades Alcoa (AA) to Neutral
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Alcoa (AA) Misses Q3 EPS by 2c
October 11, 2016 7:47 AM EDTAlcoa (NYSE: AA) reported Q3 EPS of $0.32, $0.02 worse than the analyst estimate of $0.34. Revenue for the quarter came in at $5.21 billion versus the consensus estimate of $5.33 billion.
Q3 highlights:
Alcoa completed a 1-for-3 reverse stock split of its common stock; per share amounts in this announcement reflect the reverse stock splitNet income of $166 million, or $0.33 per share; excluding special items, adjusted net income of $161 million, or $0.32 per shareRevenue of $5.2 billion, down 6 percent year over year, largely due to... More