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Alcoa reported quarterly earnings and revenue that beat analysts' expectations on Monday.
The company posted adjusted second-quarter earnings per share of 15 cents on revenue of $5.3 billion.
Analysts expected the company to report earnings of about 9 cents per share on $5.2 billion in revenue, according to a consensus estimate from Thomson Reuters.
After the announcement, Alcoa shares jumped more than 4 percent in after hours trading.
Despite beating expectations, Alcoa's second-quarter adjusted earnings per share declined from 19 cents in the comparable year-ago period. Revenue also fell — from $5.9 billion — compared to the same quarter last year.
CEO and Chairman Klaus Kleinfeld, attributed the quarterly success to making the company "increasingly agile."
"In the face of a transforming aerospace market, we moved quickly to bring our costs down while capturing new opportunities," he said in a Monday afternoon release. "Contract wins continued as did our innovation leadership with the opening of a state-of-the-art metals powder plant geared toward rising demand for 3D-printed parts."
Kleinfeld also highlighted the company's automotive sheet revenue hitting an all-time high, and the performance Alcoa's upstream segments.
Speaking with CNBC after the quarterly results were released, Kleinfeld pointed to growth in the aerospace field.
"When you look at passenger demand, when you look at growth of the middle class ... airlines' record highs projected for this year, so this is a very attractive market for us," he said.
Alcoa is expected to split into two publicly traded companies later this year. The company plans to separate into "upstream" and "value-add" units amid a divergence of its operations. The value-add firm, to be called Arconic, will contain higher-growth segments like car and airplane part production, and will aim to be "a global leader in precision engineering and advanced manufacturing," according to the company.
After the split, the Alcoa Corporation will house the company's traditional units including bauxite, aluminum and alumina.
Kleinfeld said Monday that the company's separation remains "on track" for later this year.
Alcoa shares are up about 2 percent year-to-date, but traded Monday about 5 percent lower since the same time last year.