Aluminum manufacturer Alcoa Inc. says it lost $2 million in the second-quarter as revenue dropped due to weaker prices and pockets of declining demand in the slowing global economy.
Alcoa on Monday posted break-even earnings per share, compared with 28 cents per share, a year ago. Excluding one-time items, Alcoa's earnings were 6 cents per share.
Revenue fell 9 percent to $5.96 billion. Analysts surveyed by FactSet expected 5 cents per share on revenue of $5.83 billion. Such items typically exclude one-time items.
The aluminum industry has faced challenges as some European countries slide into recession and growth slows in the U.S. and China.
Alcoa's performance reflects broader economic trends because aluminum is used in a wide range of products from automobiles to beverage cans.