It cited productivity improvements, higher aluminium prices and improved volume and mix for the results.
The US company recorded revenue growth in end markets, including industrial products (14%), automotive (13%), packaging (11%) and commercial transportation (11%), compared to Q4 2011
The group also forecast continued demand growth this year, with a particularly strong outlook for the aerospace sector. It also expects growth in the automotive, commercial transportation, packaging, building and construction, and industrial gas turbine markets.
It forecast global aluminium demand to grow 7% in 2012, on top of the 10% increase seen in 2011.
Alcoa recorded Q1 2012 revenue of $6bn, up slightly over Q4 2011 and Q1 2011. It recorded revenue growth in markets including industrial products, automotive, packaging and commercial transportation, compared to Q4 2011.
Q1 2012 net profit was $94M compared to a net loss of $191M in Q4 2011.
Its primary metals profit in Q1 was $10M, a decrease of $192M from a year-ago quarter and an increase of $42M from Q4 2011.
Its primary metals profit in Q1 was $10M, a decrease of $192M from a year-ago quarter and an increase of $42M from Q4 2011.
Profits at the rolled products and engineered products divisions were both strong. Post-tax operating profits were $96M in rolled products, up 19% and $155M in engineered products also up 19%.