Arconic (ARNC) Earnings, Revenues Beat Estimates In Q2
Zacks Investment Research | Jul 24, 2017 02:52AM ET
Arconic Inc. (NYSE:ARNC) logged profit, as reported, of $212 million or 43 cents per share for the second quarter of 2017. The results in the reported quarter include $47 million of special items that includes a gain on debt-for-equity exchange of shares of Alcoa Corp. (NYSE:AA) .
Barring one-time items, earnings came in at 32 cents per share for the reported quarter, marginally down from 33 cents per share a year ago. The results topped the Zacks Consensus Estimate of 27 cents. Arconic gained from its cost-saving actions in the quarter and all units delivered higher volumes.
Arconic reported revenues of $3,261 million, up around 1% year over year. The figure surpassed the Zacks Consensus Estimate of $3,234 million. Revenues were driven by improved volumes across all segments and higher aluminum prices.
Arconic Inc. Price, Consensus and EPS Surprise
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Arconic currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked companies in the basic materials space include Ternium S.A. (NYSE:TX) and Westlake Chemical Corp. (NYSE:WLK) . Both stocks sport a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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