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Arconic Trades Higher On Q2 Earnings Beat, Raised Guidance

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Arconic (NYSE: ARNC) reported second-quarter earnings of 58 cents per share, which beat the analyst consensus estimate of 50 cents by 16%. This is a 56.76% increase over earnings of 37 cents per share from the same period last year.

The company reported quarterly sales of $3.691 billion, which beat the analyst consensus estimate of $3.63 billion by 1.68%. This is a 3.30% increase over sales of $3.573 billion the same period last year.

“In the second quarter 2019, the Arconic team delivered improved quarterly revenue, adjusted operating income, adjusted operating income margin, and adjusted earnings per share on both a year-over-year and sequential basis,” said Arconic CEO John Plant. “Arconic's second quarter 2019 RONA improved by 450 basis points year over year and 340 basis points from the first quarter 2019. We expect this positive year-over-year trend to continue in the third quarter.”

Arconic shares were trading up 4.6% at $250.50 in Friday’s pre-market session. The stock has a 52-week high of $26.40 and a 52-week low of $15.63.

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Posted-In: Earnings News Guidance

 

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