Alcoa posted a third-quarter profit of $483 million, up from $232 million a year earlier, as the aluminum producer worked to improve operations and boost output.
The gain reflected the company's efforts to increase production across its operations, which helped lift both profit and sales for the quarter. Management's focus on operational improvements was central to the stronger results.
The quarterly figures show a sharp year-over-year increase, with profit more than doubling compared with the prior-year period. The $483 million result marks a notable recovery in earnings for the company.
The Wall Street Journal's US Business coverage highlights Alcoa's performance as an example of how production gains and operational changes can translate into higher profits for industrial companies.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing