Weighed down by restructuring costs, Alcoa posts $119 million 2Q loss, still tops expectations

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In this July 5, 2011 photo, Alcoa\'s Fjardaal aluminum smelter in Reydarfjordur, Iceland, an environmentally friendly plant that utilizes hydroelectric power, is shown. On Monday, July 8, 2013, Alcoa said its second-quarter loss widened due to weak aluminum prices, although the results are better than expected after backing out restructuring and legal costs. (AP Photo/Mark Lennihan)

NEW YORK, N.Y. – Alcoa says its second-quarter loss widened due to weak aluminum prices, although the results are better than expected after backing out restructuring and legal costs.

The company continues to see strong sales of aluminum products used in automobiles and airplanes.

Alcoa Inc.’s said Monday that it lost $119 million, or 11 cents per share, in the April-through-June quarter. That compares with a loss of $2 million, or break-even on a per-share basis, a year ago.

Excluding special items such as restructuring expenses, Alcoa says it would have earned 7 cents per share, a penny more than analysts expected, according to FactSet.

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