Investing.com - Arconic reported on Thursday third quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Arconic announced earnings per share of $0.05 on revenue of $1.42B. Analysts polled by Investing.com anticipated EPS of $0.14 on revenue of $1.38B.
Arconic shares are down 43% from the beginning of the year, still down 31.31% from its 52 week high of $34.27 set on February 19. They are under-performing the S&P Global (NYSE:SPGI) 100 which is up 5.9% from the start of the year.
Arconic follows other major Basic Materials sector earnings this month
Arconic's report follows an earnings beat by Sherwin-Williams on October 27, who reported EPS of $8.29 on revenue of $5.12B, compared to forecasts EPS of $7.79 on revenue of $5.07B.
Vale ADR had missed expectations on October 28 with third quarter EPS of $0.63 on revenue of $10.76B, compared to forecast for EPS of $0.64 on revenue of $10.81B.
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