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Alcoa reported quarterly earnings that beat analysts' expectations on Wednesday, but its revenue fell slightly short.
The company, which is in the midst of a major business transformation push, reported adjusted first-quarter earnings per share of 28 cents on revenue of $5.82 billion.
Analysts had expected Alcoa to report earnings of 26 cents per share on $5.94 billion in revenue, according to a consensus estimate from Thomson Reuters.
After initially holding unchanged, the company's stock fell about 3 percent in after-hours trading following the earnings release.
Despite the revenue miss, the company took a positive outlook on its quarterly performance.
"When you lift the hood on the profit side, you see a record performance on the upstream side," Klaus Kleinfeld, Alcoa's chairman and CEO, told CNBC. "Again, super, super good first quarter. And you see a very, very good performance on the downstream side."
That growth, he later explained on the earnings call, is driven by strong organic gains in Alcoa's automotive and aerospace businesses.
The CEO emphasized that his firm remains committed to its reorientation endeavors.
"First quarter results show our transformation is moving at ongoing high speed and is fully on course," Kleinfeld said in the earnings release. "We are organically and inorganically broadening our innovative, multi-material value-add businesses, bringing new capabilities and materials to our aerospace and automotive offerings, and taking swift action in the upstream, making it more competitive.
"We are pulling on all levers to create sustainable shareholder value," he added in the release.