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.