Aloca reported Q2 results with non-GAAP EPS of $0.06 in-line and revenues of $5.96bil topping the $5.81bil consensus. With the near $6bil Q2 revenues, annualized real GDP Q2 growth rate could be around 1.6%. Although better than expected, top-line was still down 9.4% Y/Y and down nearly 1% from the prior quarter.
AA's earnings call is at 5pm (ET). We will be looking for an update on the Company's worldwide 2012 end-market guidance. As a reminder, during the Q1 presentation, the Company called for strong growth in North American automotive and heavy trucks markets, partially offset by weakness in the beverage can industry, and commercial building and construction. The only bright spot it saw in Europe at that time was the beverage can packaging end-market. For China, it lowered its growth projections of the automotive and trucking industries from the prior quarter, while it slightly upped growth forecast for commercial building and construction. Again, we will looking for any changes in these projections in today's call. AA is up a couple of pennies in AH.
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