Arconic Inc. (NYSE:ARNC) , formerly known as Alcoa Inc (NYSE:AA)., is a global leader in multi-material, precision engineered products and solutions for a variety of industries. The company holds strong positions in attractive markets including aerospace and automotive. It also remains focused on cost reduction and productivity improvements across its businesses.
Let’s have a quick look at the company’s second-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the second quarter remained stable over the past month. The company has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters and missed once, with an average beat of around 25.47%.
Earnings
Arconic’s adjusted earnings for the quarter came in at 32 cents per share. Earnings topped the Zacks Consensus Estimate of 27 cents.
Revenues
Arconic reported revenues of $3,261 million, up around 1% year over year. That surpassed the Zacks Consensus Estimate of $3,233.5 million.
Key Developments to Note
Arconic delivered a strong performance in the second quarter as it continues to cut cost and boost margins. The company has also revised the full year guidance on the back of higher volumes, higher aluminium prices and stronger net cost savings.
The company sees revenues in the range of $12.3 billion to $12.7 billion (up from $11.8 billion to $12.4 billion) and adjusted earnings of $1.15 to $1.20 per share (up from $1.10 to $1.20 per share) for 2017.
Zacks Rank
Currently, Arconic has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Arconic’s shares were up around 4% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Arconic’s earnings report!
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Arconic Inc. (ARNC): Free Stock Analysis Report
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