Alcoa Reports Improved 1Q Results, Projects Growth in North American Truck Market
Aluminum-wheel supplier Alcoa reported improved first-quarter financial results and boosted its 2015 outlook for the North American heavy-duty truck market.
The manufacturer reported net income of $195 million, or 14 cents per share, compared with a net loss of $178 million, or 16 cents, in the same quarter a year earlier.
This year’s quarter included $158 million in restructuring-related charges, the company said.
Alcoa projected that orders in the North American heavy-duty truck and trailer sector will climb by 6% to 8% this year from its previous forecast of 3% to 7% growth.
However, the company said it expects the global truck-and-trailer market to decline by 2% to 4% this year due to weakness in China, Europe and Brazil.
Alcoa said its quarterly revenue rose 7% from a year ago to $5.8 billion, driven by growth in the automotive and aerospace sectors.
