Alcoa Fastener Sales Rise on Aerospace Demand

Jason Sandefur

Record aerospace industry demand pushed Alcoa’s Engineered Solutions segment sales, including fasteners, up 6.5% to $1.45 billion during the first quarter of 2007, while segment operating income grew 12% to $93 million.
“The record result was achieved despite the known decline in the commercial vehicle market and continued weakness in the U.S. automotive base,” the company stated.
Major drivers contributing to the quarter were higher aerospace sales and continued productivity improvements.
Consolidated Q1 revenue rose 11% to $7.9 billion, boosted by aerospace orders and higher metal prices. Overall income increased 13% to $673 million, the strongest Q1 income in company history. Cash flow improved by $700 million to $527 million during the quarter. Web: alcoa.com �2007 FastenerNews.com