Arconic: 3Q Earnings Snapshot
NEW YORK (AP) _ Arconic Inc. (ARNC) on Tuesday reported third-quarter earnings of $161 million.
On a per-share basis, the New York-based company said it had net income of 32 cents.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The maker of engineered products for the aerospace and other industries posted revenue of $3.52 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $3.48 billion.
Arconic expects full-year earnings in the range of $1.28 to $1.34 per share, with revenue in the range of $13.7 billion to $14 billion.
Arconic shares have fallen 29 percent since the beginning of the year. The stock has fallen 22 percent in the last 12 months.