Alcoa income up despite weak LME

Apr 08, 2013 | 05:03 PM |

Tags  Alcoa, earnings report, Klaus Kleinfeld, William Oplinger

NEW YORK — Weaker aluminum prices on the London Metal Exchange and lower sales volumes weighed on Alcoa Inc.’s revenue in the first quarter, but productivity improvements and a more favorable value-added product mix helped to boost the company’s net income compared with the same period last year.

"This was a strong quarter led by record profitability in our downstream business, improved results in our midstream business and remarkable upstream performance in the face of weak metal prices," Klaus Kleinfeld, Alcoa’s chairman and chief executive officer, said in a statement.....

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