MOMENTUM DRIVES ALL-TIME RECORD CASH FLOW OF $800 MILLION
from continuing operations of $1.21 per common share compared to $0.19
year earlier and $1.21 in the second
earnings of $1.22 per common share compared to $0.53 a year earlier
$1.48 in the second quarter;
cash from operating activities in continuing operations of $803 million,
up from $655 million a year earlier and $771 million in the second
General and Administrative expenses at $327 million or 5.7% of revenues,
down from 6.8% a year earlier and 6.0% last
CANADA - October 31, 2006 - Alcan Inc. (NYSE, TSX: AL) today reported operating
earnings of $1.22 per common share in the third quarter of 2006 compared to
$0.53 a year ago and $1.48 in the seasonally strong second quarter.
cash flow reached an all-time high of $803 million, and we recorded the
strongest third-quarter earnings performance in Alcan’s history,” said Dick
Evans, President and CEO. “We have worked hard to reduce costs, restructure
businesses and upgrade our portfolio, and the effort is paying off. Our focus
squarely on managing for cash and real economic value, with the financial rigour
and management systems to deliver,” he continued.
recent dividend increase and share repurchase announcements reflect our
confidence in the company’s prospects and commitment to superior returns. We
intend to maintain a disciplined approach to capital allocation balancing
growth, returns to shareholders and balance-sheet strength. With aluminum market
fundamentals expected to remain firm and normal seasonal patterns in cash flow,
we expect fourth-quarter cash from operations to be even stronger,” he
amounts in this press release are expressed in U.S. dollars unless otherwise
stated. This press release includes a number of measures for which no meaning
prescribed by generally accepted accounting principles (GAAP). Refer to the
section “Definitions” for an explanation of these measures.
The following information was filed by Alcan Inc on Tuesday, October 31, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Alcan Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Alcan Inc.
CIK: 4285 Form Type:10-Q Quarterly Report Accession Number: 0000004285-06-000030 Submitted to the SEC: Thu Nov 09 2006 3:17:16 PM EST Accepted by the SEC: Thu Nov 09 2006 Period: Saturday, September 30, 2006 Industry: Primary Smelting And Refining Of Nonferrous Metals