Alcoa Reports a $2 Million Loss in 2nd Quarter Alcoa, the big aluminum manufacturer, opened the second-quarter earnings season on Monday by posting a $2 million loss, although its results were slightly ahead of analysts" expectations. The company's revenue dropped 9 percent mainly because of weak prices in the slowing global economy. Alcoa posted break-even earnings per share. That compared with 28 cents a share and net income of $322 million a year ago. The results included one-time items of $63 million. Excluding those, Alcoa earned $61 million, or 6 cents a share. Revenue totaled $5.96 billion, compared with $6.59 billion a year earlier. Analysts surveyed by FactSet had expected Alcoa to earn 5 cents a share, excluding one-time items, on revenue of $5.83 billion. They had lowered their expectations for Alcoa in recent weeks because of weaker prices for aluminum, rising inventories and the sluggish economies of the United States, Europe and China. Alcoa said that it was hit by an 18 percent decline in aluminum prices from the second quarter of 2011, but that it saw pockets of stronger demand in some industries, and overall shipments were up from a year ago. "Although aluminum prices are down, the fundamentals of the aluminum market remain sound with strong demand and tight supply, and Alcoa is successfully capitalizing on accelerating demand in high-growth end markets such as aerospace and automotive," Klaus Kleinfeld, the company's chairman and chief executive, said in a statement. The company stuck with its forecast for a 7 percent increase in global demand this year and predicted that there would be a global aluminum supply deficit this year. Alcoa's performance reflects broader economic trends because aluminum is used in products as varied as automobiles and beverage cans. It is the first company in the Dow Jones industrial average to report results, so investors often watch it for signs of how earnings may unfold for other companies.