Price rise fails to eliminate Alcoa's losses

Revenues for the Pittsburg-based aluminium producer rose 18% from the third quarter to $5.4 billion. But it announced a net loss of $277 million, compared to $77 million in the previous quarter and $1.19 billion in Q4 2008.

Alcoa posted losses of $65 million related to higher power and currency costs. A recent European ruling on electricity tariffs also resulted in charges of $250 million for the company and has forced it to temporarily shut down its smelters in Italy.

Leo Larkin, equity analyst a

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: