7/10/2012 11:42:00 AM
NEWS BRIEFS
Alcoa Reports Record Fastener Segment Margins
Alcoa reported sales at its Engineered Products segment, including Alcoa Fastening Systems, rose 3.6% to $1.42 billion in the second quarter of 2012. Total shipments grew 3.5% to 59 kmt during the period.
“Engineered Products and Solutions once again turned in record results, with second quarter adjusted EBITDA margin at 19.4%, the highest to date,” the company stated.
Adjusted EBITDA of $276 million increased $9 million sequentially and $15 million from the second quarter of 2011, boosted by continued productivity improvements and improved volume. Hampering results were higher costs and the unfavorable impact from an aluminum chip melter fire in late March at the company’s Massena, NY, facility.
Sequentially, second-quarter ATOI grew 3% in the second quarter to $160 million — up $11 million, or 7%, from the year-ago quarter.
First-half Engineered Products sales, including fasteners, climbed 7.4% to $2.81 billion, while ATOI gained 13.3% to $315 million. Total shipments increased 4.5% to 117 kmt in the first six months of 2012.
Alcoa predicted “deterioration” in the global construction market, as well as a weaker heavy duty truck build rate in the coming months.
Overall sales at Alcoa fell 9% to $6 billion in the second quarter. ©2012 GlobalFastenerNews.com
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Related Links:
• Alcoa
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