Arconic (ARNC) Reports Q2 Loss Per Share of $3.89
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Arconic (NYSE: ARNC) reported Q2 EPS of ($3.89), may not compare to the analyst estimate of $0.49. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.82 billion.
GUIDANCE:
Arconic sees FY2021 revenue of $7.3-7.6 billion, versus the consensus of $7.3 billion.
- The Company is updating its full-year 2021 outlook in light of the effects of increased metal price on revenue and working capital. Arconic now expects full-year 2021 revenue to be in a range of $7.3 billion to $7.6 billion, compared with the prior outlook of $7.1 billion to $7.4 billion. This assumes an average annual LME aluminum price of $2,330/mt and Midwest Premium of $540/mt for the full year, versus prior assumptions for LME of $2,200/mt and Midwest Premium of $430/mt. Adjusted EBITDA expectations for full-year 2021 remain in a range of $710 million to $750 million. Adjusted free cash flow outlook for full-year 2021 is now expected to be approximately $250 million compared to the prior outlook of $300 million to $400 million. Adjusted free cash flow outlook excludes a $250 million contribution to U.S. pension plans in April in connection with the $1 billion annuitization, and approximately $350 million in other funding of legacy pension, OPEB, and environmental liabilities.
For earnings history and earnings-related data on Arconic (ARNC) click here.
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