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Alcoa Announces Record Quarterly Income (7/18/06)

July 18, 2006
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Alcoa recently announced second quarter 2006 income from continuing operations of $752 million, or $0.86 per diluted share, the highest quarterly profit in the company's more than 115-year history. Income from continuing operations of $752 million, or $0.86, was 52% better than the $496 million, or $0.56, in the second quarter of 2005, and 22% higher than the $615 million, or $0.70, in the previous quarter.

"Alcoans have generated another record quarter -- delivering today while we continue building for the future," said Alain Belda, chairman and chief executive officer. "By creating solutions for our customers and continuously improving productivity, we have driven record top- and bottom-line performances." After-tax operating income for the company's alumina segment was $278 million, up 15% over the previous quarter. Higher pricing was partially offset by the effect of a weaker dollar. Additionally, alumina production for the quarter was a record 3746 thousand metric tons (kmt), up by 44 kmt from the previous quarter.

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