Arconic Inc. (NYSE:ARNC) is a global leader in multi-material, precision engineered products and solutions for a variety of industries.
Earnings
Arconic’s adjusted earnings for the first quarter came in at 43 cents per share. The figure beat the Zacks Consensus Estimate of 40 cents.
Revenues
Arconic reported revenues of $3,541 million, up around 2.8% year over year. It missed the Zacks Consensus Estimate of $3,546 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the first quarter have been going up over the past month. The company has beaten the Zacks Consensus Estimate in all of the trailing four quarters with an average beat of around 12.6%.
Key Developments to Note
Arconic provided its updated full-year 2019 guidance. The company expects revenues in the range of $14.3-$14.6 billion. Adjusted earnings are expected to be in the range of $1.75-$1.90 per share and free cash flow is forecast to be between $650 million and $750 million.
Zacks Rank
Currently, Arconic has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Market Reaction
Arconic’s shares were up 3.2% 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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