Investing.com - Arconic reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Arconic announced earnings per share of $-3.89 on revenue of $1.8B. Analysts polled by Investing.com anticipated EPS of $0.4676 on revenue of $1.76B.
Arconic shares are up 18.86% from the beginning of the year, still down 7.98% from its 52 week high of $38.49 set on June 11. They are outperforming the S&P 500 which is up 16.8% from the start of the year.
Arconic follows other major Basic Materials sector earnings this month
Arconic's report follows an earnings beat by LyondellBasell Industries on Friday, who reported EPS of $6.13 on revenue of $11.56B, compared to forecasts EPS of $5.43 on revenue of $10.96B.
POSCO had beat expectations on July 22 with second quarter EPS of $4.5 on revenue of $15.91B, compared to forecast for EPS of $4.4 on revenue of $15.51B.
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