UPDATE: Arconic (ARNC) Miss Q4 EPS by 1c; Offers Q1 & FY20 EPS Mid-Point Guidance Below Consensus, FY20 Revenue Mid-Point Guidance Below Consensus

Arconic (NYSE: ARNC) reported Q4 EPS of $0.53, $0.01 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.49 billion.

Fourth Quarter 2019 Highlights

• Revenue of $3.4 billion, down 2% year over year; organic revenue1 up 1% year over year
• Net income of $309 million, or $0.70 per share, versus net income of $218 million, or $0.44 per share, in the fourth quarter 2018
• Net income excluding special items of $234 million, or $0.53 per share, versus $162 million, or $0.33 per share, in the fourth quarter 2018
• Operating income of $416 million versus $323 million in the fourth quarter 2018
• Operating income excluding special items of $444 million, up 37% year over year
• Operating income margin excluding special items up 380 basis points year over year
• Cash balance2 of $1.7 billion

Arconic Chairman and Chief Executive Officer John Plant said, “In 2019, the Arconic team delivered improved revenue, adjusted operating income, adjusted operating income margin, adjusted free cash flow and adjusted earnings per share. Arconic’s 2019 return on net assets improved by 450 basis points year over year to 13.7%.”

GUIDANCE:

Arconic sees Q1 2020 EPS of $0.47-$0.53, versus the consensus of $0.53.

Arconic sees FY2020 EPS of $2.22-$2.42, versus the consensus of $2.37. Arconic sees FY2020 revenue of $13.9-14.2 billion, versus the consensus of $14.16 billion.

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

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