Klaus Kleinfeld, President & CEO of Alcoa joined Maria Bartiromo after the close today, with an exclusive look at its thrid quarter report which hit the wires at 4:05pm ET. Alcoa, which officially kicks off the third quarter earnings season for blue chip companies did not disappoint.
Alcoa reported its first profit in a year, with earnings of 4¢ per share, that compares to estimates for a loss of 9¢ share. Revenues were in line, coming in at $4.62B. On the 9% quarter-on-quarter increase in revenue, Kleinfeld said that this was pretty much "across the board in all the industries, other than aerospace and gas turbine." He also told us that Alcoa "strengthened our cost structure, strengthened the balance sheet and refocused the portfolio."