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Alcoa: 3Q Earnings Snapshot

PITTSBURGH (AP) _ Alcoa Corp. (AA) on Wednesday reported a loss of $221 million in its third quarter.

On a per-share basis, the Pittsburgh-based company said it had a loss of $1.19. Losses, adjusted for non-recurring costs, were 44 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.

The bauxite, alumina and aluminum products company posted revenue of $2.57 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $2.54 billion.

Alcoa shares have decreased 28% since the beginning of the year, while the Standard & Poor's 500 index has increased 19%. In the final minutes of trading on Wednesday, shares hit $19.19, a decline of 47% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AA at https://www.zacks.com/ap/AA