Reports Q2 $0.18 v $0.13e, R$5.84B v $5.63Be
- Affirms FY14 global aluminum demand growth +7% (prior +7%) Outlook: Global aluminum demand growth forecast of 7 percent in 2014 reaffirmed; global aluminum deficit increasing; global alumina surplus shrinking Segments:
- Alumina after tax operating income $38M v $64M y/y
- Primary metals after-tax operating income $97M v -$32M y/y
- Global rolled products after-tax operating income $79M v $79M y/y
- Engineered products and solutions after-tax operating income $204M v $193M y/y
- Adj EBITDA margin 13.3% v 10.5% y/y
- CEO: We are taking the downstream business to new profitability heights, capturing midstream demand as auto lightweighting accelerates, while continuing to relentlessly improve upstream performance. Our strategy of building a lightweight multi-material innovation powerhouse and a highly competitive commodities business is driving compelling and sustainable shareholder value.