Arconic (ARNC) Tops Q2 EPS by 6c; Raises Guidance

Arconic (NYSE: ARNC) reported Q2 EPS of $0.32, $0.06 better than the analyst estimate of $0.26. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.18 billion.

“Arconic delivered another solid quarter. The business increased revenue and profitability, continued to expand margins and take out cost. We ended the first half of 2017 with significantly less debt, a strong cash position and good liquidity. We are pleased to update our guidance for the year, reflecting our increased confidence in 2017 performance,” said Arconic Interim Chief Executive Officer David Hess.

GUIDANCE:

Arconic sees FY2017 EPS of $1.15-$1.20, versus $1.10 - $1.20 prior and the consensus of $1.16. Sees revenues of $12.3-$12.7 billion, versus prior of $11.8-$12.4 billion.

For earnings history and earnings-related data on Arconic (ARNC) click here.

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