Unofficially kicking off US reporting season dual listed Alcoa Inc (ASX:AAI, NYSE:AA) has beaten earnings expectations.
The aluminium giant says its surge in third quarter profits come as its repositioning continues accelerating.
Alcoa posted earnings per share of $US0.31, excluding certain items, on revenue of $US6.2 billion.
Chairman and CEO Klaus Kleinfeld says the quarter is a clear data point that Alcoa’s transformation is delivering.
Looking ahead the company has confirmed it expects global aluminium demand to grow 7 per cent this year.
Alcoa reported a net loss of $72.18 million in the first half of the 2014 calendar year.