Alcoa’s (AA) second-quarter profit is likely to show the largest US aluminum producer’s earnings won’t recover to pre-financial crisis levels until after 2012. According to Bloomberg, the New York-based co. will today post earnings excluding one-time items of 11 cents a share. Estimates show quarterly earnings are expected not to exceed 44 cents p/sh through 2012. In the 18 months through June 2008, before the stock markets nosedived and Lehman Brothers filed for bankruptcy, they averaged 62 cents a share – Bloomberg
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