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The company recently reported a very strong third quarter. In fact, AA reported its highest-ever quarterly net income of $337 million. It also generated $3.1 billion in sales due to higher alumina and aluminum prices. AA is the world’s largest producer of alumina, which is used to produce aluminum.
AA had $1.4 billion in cash as of the end of the third-quarter, compared to short term debt of only $1 million. In the third quarter, earnings rose from -$1.17 to $2.05 and sales jumped 31% year over year. Analysts expect sales to jump another 43.4% year over year in the current quarter, while earnings are expected to surge 765.4% year over year in the same period.
