Arconic (ARNC) Tops Q4 EPS by 7c, Beats on Revenues; Offers FY18 Revenue Guidance Above Consensus, FY18 EPS Outlook Below Estimates

Arconic (NYSE: ARNC) reported Q4 EPS of $0.31, $0.07 better than the analyst estimate of $0.24. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.08 billion.

Fourth Quarter 2017 Highlights

• Revenue of $3.3 billion, up 10% year over year; organic revenue1 up 6% year over year
• Net loss attributable to Arconic of $727 million, or $1.51 per share, versus net loss of $1.3 billion, or $2.91 per share, in the fourth quarter of 2016
• Excluding special items, adjusted income of $152 million, or $0.31 per share, versus $71 million, or $0.12 per share, in the fourth quarter of 2016
• Consolidated adjusted EBITDA2 of $436 million, up 54% year over year
• Excluding special items, consolidated adjusted EBITDA of $446 million, up 24% year over year
• Net cost savings of 2.1% of revenues

Full Year 2017 Highlights

• Revenue of $13.0 billion, up 5% year over year; organic revenue up 5% year over year
• Net loss attributable to Arconic of $74 million, or $0.28 per share, versus net loss of $941 million, or $2.31 per share, in the full year 2016
• Excluding special items, adjusted income of $618 million, or $1.22 per share, versus $505 million, or $0.98 per share, in 2016
• Consolidated adjusted EBITDA of $1.8 billion, up 17% year over year
• Excluding special items, consolidated adjusted EBITDA of $1.9 billion, up 9% year over year
• Net cost savings of 1.8% of revenues; reduced SG&A excluding special items by $111 million
• Strengthened balance sheet:
  • $1.25 billion debt redemption in 2017
  • Year-end cash balance of $2.15 billion

Guidance

• Issued Full Year 2018 Guidance*: Revenue $13.4-$13.7 billion, Adjusted Earnings Per Share $1.45-$1.55, Free Cash Flow ~$500 million

GUIDANCE:

Arconic sees FY2018 EPS of $1.45-$1.55, versus the consensus of $1.61. Arconic sees FY2018 revenue of $13.4-13.7 billion, versus the consensus of $13.1 billion.

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

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