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Alcoa's stock popped 5 percent on Tuesday after beating earnings estimates by 6 cents per share in its second quarter.
The company posted earnings of 15 cents per share.
Alcoa also reported revenue of $5.3 billion, topping expectations from Thomson Reuters.
"In the face of a transforming aerospace market, we moved quickly to bring our costs down while capturing new opportunities," CEO Klaus Kleinfeld said. "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."
Kleinfield also said that the company continues to perform well in a low pricing environment with expectations of double digit growth for next year.
Last week, Alcoa opened a 3D printing metal power plant. The facility produces titanium, nickel and aluminum aerospace parts.
Alcoa's shares are flat in the past year.
Alcoa's 12-month performance: