Arconic: 3Q Earnings Snapshot
NEW YORK (AP) _ Arconic Inc. (ARNC) on Tuesday reported third-quarter earnings of $95 million.
On a per-share basis, the New York-based company said it had net income of 21 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were 58 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The maker of engineered products for the aerospace and other industries posted revenue of $3.56 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.6 billion.
Arconic expects full-year earnings in the range of $2.07 to $2.11 per share, with revenue in the range of $14.15 billion to $14.35 billion.
Arconic shares have risen 71% since the beginning of the year. The stock has increased 36% in the last 12 months.