Alcoa’s 4th-Quarter Earnings Beat Forecasts

Alcoa Inc., the world’s largest producer of aluminum, said its fourth-quarter earnings rose a higher-than-expected 17% to $392 million, or 45 cents a share, as the impact of cost-cutting and acquisitions more than offset higher energy costs and a slowing U.S. economy. Sales rose 54% to $6.56 billion. Analysts on average were expecting 42 cents, according to First Call/Thomson financial. That was revised downward from 50 cents in October after the company said profit would be hurt by higher energy costs and weaker demand from the transportation and construction industries. The company said that its acquisitions of Reynolds Metals Co. and Cordant Technologies last year had a positive impact on earnings, a quarter ahead of schedule. Shares of Pittsburgh-based Alcoa, a component of the Dow Jones industrial average, closed up 50 cents at $33.63 on the New York Stock Exchange.