Alcoa (NYSE:AA) is scheduled to release its second quarter results on July 8. The aluminum giant is hoping to build upon its strong first quarter, which saw earnings surge despite weak aluminum prices.

The reason Alcoa was able to report strong earnings last quarter was because its value-added businesses are all starting to do just that, add value to the company. It's a move that's really beginning to reward the company's investors as Alcoa's stock has vastly outperformed the market this year.

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In looking ahead to the second quarter, the company's value-add business segments will again be front and central, which is why investors should pay special attention to what Alcoa has to say about these segments this quarter. But Alcoa's value-add segments aren't the only area of importance this quarter as I see three important areas investors need to watch when Alcoa reports second quarter earnings, which I've detailed in the below slideshow presentation. If the company's stock is going to continue to reward investors this year, then it needs to continue to deliver improvements in these three areas. 


Matt DiLallo has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.