On April 10, Alcoa
- Revenues rose by more than 11%, thanks to higher metal prices and sales to the aerospace, building and construction, and industrial-product markets.
- Though gross margins dipped year over year, they improved 2.2% versus Q4 2006, thanks to "productivity initiatives."
- Operating cash flow rose to a record $527 million for the quarter, but free cash flow still came in negative.
- One hundred and thirty All-Stars peg Alcoa as an outperform in Motley Fool CAPS.
(Figures in millions, except per-share data.)
Income Statement Highlights
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|
Sales |
$7,908 |
$7,111 |
11.2% |
Net Profit* |
$673 |
$614 |
9.6% |
EPS |
$0.77 |
$0.70 |
10% |
Diluted Shares |
875.8 |
876.0 |
(0%) |
Get back to basics with the income statement.
Margin Checkup
Q1 2007 |
Q1 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
24% |
24.9% |
(0.8) |
Operating Margin |
15.3% |
15.4% |
(0.1) |
Net Margin |
8.5% |
8.6% |
(0.1) |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$420 |
$459 |
(8.5%) |
Accounts Rec. |
$3,314 |
$3,380 |
(2%) |
Inventory |
$3,780 |
$3,778 |
0.1% |
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Accounts Payable |
$2,570 |
$2,691 |
(4.5%) |
Long-Term Debt |
$6,311 |
$5,226 |
20.8% |
The balance sheet reflects the company's health.
Cash Flow Highlights
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|
Cash From Ops. |
$528 |
($213) |
N/A |
Capital Expenditures |
$783 |
$592 |
32.3% |
Free Cash Flow |
($255) |
($805) |
N/A |
Free cash flow is a Fool's best friend.
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