LIVE: Alcoa reports first quarter earnings ...

Here comes earnings season.

After the market close on Wednesday, Alcoa will report first quarter earnings, unofficially kicking off first quarter earnings season.

Wall Street is expecting the aluminum giant to report adjusted earnings per share of $0.26 on revenue of $5.94 billion, according to Bloomberg.

This would be down from adjusted earnings of $0.33 on revenue of $6.38 billion in the fourth quarter of 2014.

Wall Street expectations have been ratcheted down significantly ahead of the start of earnings season, with earnings for the S&P 500 expected to decline 4.2% over the prior year, mostly owing to the decline in oil prices and the rally in the US dollar.

We'll be back with the live numbers when they hit.