American aluminum giant Alcoa (NYSE:AA) has long held the distinction of being the first major U.S. company to report in any given earnings cycle. As aluminum is a major economic bellweather, these earnings get even more scrutiny from analysts and forecasters these days. Luckily for the recovery bulls, Alcoa came through this time.
The Quarter that Was
Alcoa reported that sales jumped 22% from last year and 6% from the prior quarter. Of that 6% growth, two-thirds came from increased shipments. Gross margins improved significantly from the year-ago period, and the company continued a strong resurgence to profitability from both the prior quarter and the year-ago period.
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