Arconic (ARNC) Misses Q4 Revenue
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Arconic Reports Fourth Quarter 2022 and Full Year 2022 Results
February 21, 2023 6:45 AM ESTFourth Quarter 2022 Highlights
Sales of $1.9 billion, down 9% year over year, up 2% organically Net loss of $273 million, or $2.70 per share, compared with net loss of $38 million, or $0.36 per share, in fourth quarter 2021. Fourth quarter 2022 includes a $304 million after-tax loss related to the sale of the Companys Russian operations Adjusted EBITDA of $154 million; Adjusted EBITDA excluding Russian Operations of $145 million, down 5% year over year on a comparable basis Repurchased approximately 2.1 million shares at a cost of $46 million Sale of Russian operations closed on November 15, 2022Full Year 2022... More
