Investing.com - Arconic reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Arconic announced earnings per share of $0.39 on revenue of $2.2B. Analysts polled by Investing.com anticipated EPS of $0.4621 on revenue of $2.24B.
Arconic shares are down 22.87% from the beginning of the year, still down 33.85% from its 52 week high of $38.49 set on June 11, 2021. They are under-performing the EUR/USD which is down 0% from the start of the year.
Arconic follows other major Materials sector earnings this month
Arconic's report follows an earnings beat by Vale ADR on April 27, who reported EPS of $0.93 on revenue of $10.81B, compared to forecasts EPS of $0.838 on revenue of $11.66B.
Sherwin-Williams had beat expectations on April 26 with first quarter EPS of $1.61 on revenue of $5B, compared to forecast for EPS of $1.54 on revenue of $4.91B.
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