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 fourth quarter came in at 53 cents per share. The figure missed the Zacks Consensus Estimate of 54 cents.
Revenues
Sales fell 2% year over year to $3,401 million and missed the Zacks Consensus Estimate of $3,469 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the fourth quarter have been stable over the past month. The company has beaten the Zacks Consensus Estimate in all of the trailing four quarters with an average beat of 10.7%.
Key Developments to Note
Arconic has issued guidance for full-year 2020.
The company expects sales in the range of $13.9-$14.2 billion. Adjusted EPS for 2020 is projected in the band $2.22-$2.42. Moreover, the company expects adjusted free cash flow to be between $800 and $900 million for 2020.
Arconic also expects adjusted EPS for first-quarter 2020 to be in the range of 47-53 cents.
Zacks Rank
Currently, Arconic has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Market Reaction
Arconic’s shares were up 0.3% 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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