Alcoa's CEO On The Company's Better Than Expected Fourth Quarter Results

Alcoa Inc AA came out with better than expected fourth quarter results after markets closed for trade on Monday. The company declared fourth quarter revenues of $6.4, up 14p from the same period last year and net income of $432 million (excluding special items)compared to a net loss of $2.3 billion in the fourth quarter of 2013.

Alcoa CEO, Klaus Kleinfeld, was recently on CNBC to discuss the performance of the company's ‘business trifecta’.

“Well if you look at the fourth quarter, it’s really capping of a wonderful accelerated transformation,” Kleinfeld said. “You just heard the numbers, if you look at the ups, the revenue is up 14p and by the way 50p of that is purely by economic growth, the profitability is up and literally we have a, I would almost call it a business trifecta. We have three groups and all of the three groups are performing very very well.”

He continued, “You go to the downstream business, the downstream business now has its nineteenth consecutive quarters of ATOI [After Tax operating Income] improvement, that’s without Firth Rixson, especially the effects that we had there in the quarter.”

“You look at the midstream business, midstream business substantially improved performance year over year… and then you look at the commodity business that was clearly showing coming down [while] coming down the cost improving our profitability, it’s the thirteenth consecutive quarter of improved profits there... We are really accelerating the transformation and it’s showing in the fourth quarter numbers, it’s showing in the year over year numbers.”