Metal manufacturer Alcoa (NYSE: AA), New York, NY, reported sales for the first quarter of $5.8 billion, an increase of 7 percent year-over-year, primarily due to organic growth driven by strong automotive and aerospace volume. Profit for the quarter was $195 million, compared to a year-ago loss of $178 million.
In 2015, Alcoa continues to project growth for the aerospace (9 percent to 10 percent), automotive (2 percent to 4 percent), building and construction (5 percent to 7 percent), industrial gas turbine (1 percent to 3 percent) and packaging (2 percent to 3 percent) end markets.
Alcoa has upwardly revised its view of global aluminum demand growth to 9 percent.
Alcoa also sees increasing orders in the North American heavy duty truck and trailer market, and projects 6 percent to 8 percent growth for 2015, however, with weakness in China, Europe and Brazil, the market is projected to decline 2 percent to 4 percent for the year.
