Lightweight metals manufacturer Alcoa (NYSE: AA), New York, NY, reported sales for the second quarter of $5.3 billion, a decrease of 10 percent year-over-year. Profit for the quarter was $135 million, down 3.5 percent from a year ago.
The company's previously announced split is on track to be completed in the second half of 2016. The Arconic segments, which will operate as a value-add company after the separation, had sales of $3.5 billion in the second quarter and the Alcoa segments, which will operate as an upstream company, had sales of $2.3 billion.
For the first six months, the company reported sales of $10.2 billion, down 12.6 percent from the same period a year ago. Profit was $151 million, down from $335 million a year ago.
