看看ALCOA预期.

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SAN FRANCISCO (MarketWatch) — Alcoa Inc. saw its earnings estimates slashed Tuesday by Deutsche Bank Securities, which cited lower aluminum prices and production cuts.

The downward revision comes two weeks ahead of the Dow component’s scheduled release of second-quarter results on July 9.

Deutsche analyst Jorge Beristain wrote in a research note that he now expects Alcoa (US:AA) to earn of 4 cents a share for the three months ended June 30, down from an earlier estimate of 16 cents. His revised earnings outlook is 4 cents below the FactSet consensus of 8 cents per share.

Beristain pinned the move on a quarter-over-quarter drop in aluminum prices to $1.06 per pound, down 5 cents from this time last year. He also said maintenance and repair costs at the company’s smelters would weigh on the bottom line, with some of these costs offset by cheaper raw materials.

The analyst said he expects earnings to drop from the previous quarter on a drop in aluminum/alumina volume, as well as an output decline of 100,000 tons due to curtailments. Beristain expects second-quarter alumina prices to have held steady at $345 a ton.


Euro-zone weakness, recent aluminum smelter shutdowns in China and the high cost of operating smelters in both Australia and Brazil were all cited as reasons for the company’s 7% growth slowdown.

Alcoa shares, currently trading at $8.47 a share, are up 26 cents from a 52-week low reached June 4. The company has seen a 44% decline in its stock price over the past 12 months.