MONTREAL - Alcoa Inc., the leading U.S. aluminum producer, will kick off the U.S. earnings reporting season covering the final quarter of 2010 after stock markets close on Monday.
Alcoa, an international producer and Quebec's second-biggest after Rio Tinto Alcan, has been benefiting from firming world aluminum prices and post-recession recovery in domestic manufacturing. World metal inventories have dwindled and China continues to close down older smelters.
But Alcoa's fourth quarter will probably be affected by unfavourable currency factors and higher energy costs in most regions.
The company is regarded as a bellwether of the industrial economy because it sells a wide range of products to aerospace, truck, auto and consumer goods manufacturers. It also makes construction products. About 80 per cent of its sales are made in North America and Europe and the rest in emerging markets.
Analysts say Alcoa has turned the corner after the recession and should report earnings of 18 cents a share on sales of $5.6 billion U.S.
Alcan reported a week or so after Alcoa until it was taken over by Rio Tinto in 2007. Its results are now consolidated with Rio's.
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