Natalie Parkinson
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Alcoa’s profit missed analysts’ estimates

Alcoa Inc., the largest U.S. aluminum producer, reported fourth-quarter profit that missed analysts’ estimates because of a glut of rolled metal used in the aerospace industry.

The net loss was $2.34 billion, or $2.19 a share, compared with net income of $242 million, or 21 cents, a year earlier, New York-based Alcoa said yesterday in a statement. Profit excluding a $1.7 billion non-cash goodwill impairment and other one-time items was 4 cents a share, trailing the 6-cent average of 16 estimates compiled by Bloomberg.

I think that shares will fall today.