Arconic (ARNC) Tops Q1 EPS by 1c, Beats on Revenues; Updates F&18 EPS Guidance Below Consensus, FY18 Revenue Outlook Above Consensus

Arconic (NYSE: ARNC) reported Q1 EPS of $0.34, $0.01 better than the analyst estimate of $0.33. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.34 billion.

First Quarter 2018 Highlights

• Revenue of $3.4 billion, up 8% year over year; organic revenue1 up 4% year over year
• Net income of $143 million, or $0.29 per share, versus net income of $322 million, or $0.65 per share, in the first quarter of 2017
• Net income excluding special items of $169 million, or $0.34 per share, versus $169 million, or $0.33 per share, in the first quarter of 2017
• Operating income of $333 million, up 18% year over year
• Operating income excluding special items of $345 million, down 12% year over year

Guidance

• Updated Full Year 2018 Guidance*: Revenue $13.7-$14.0 billion, Earnings Per Share Excluding Special Items $1.17-$1.27, Free Cash Flow ~$250 million

Key Announcements

• Completed $500 million early redemption of debt due in February 2019
• Targets completion of strategy and portfolio work in the third quarter 2018

GUIDANCE:

Arconic sees FY2018 EPS of $1.17-$1.27, versus the consensus of $1.49. Arconic sees FY2018 revenue of $13.7-14 billion, versus the consensus of $13.53 billion.

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

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