Arconic Inc. is a global leader in multi-material, precision engineered products and solutions for a variety of industries.
Earnings
Arconic’s adjusted earnings for the first quarter came in at 34 cents per share. The figure beat the Zacks Consensus Estimate of 32 cents.
Revenues
Arconic reported revenues of $3,445 million, up around 7.9% year over year, which surpassed the Zacks Consensus Estimate of $3,329.6 million.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the first quarter have been stable over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average beat of around 18.1%.
Key Developments to Note
Arconic provided its updated full-year 2018 guidance. The company now expects revenues for 2018 in the range of $13.7 billion to $14 billion (up from $13.4-$13.7 billion). It now sees adjusted earnings to be in the range of $1.17-$1.27 per share (down from $1.45-$1.55 per share) and free cash flow to be around $250 million (down from prior guidance of roughly $500 million).
Zacks Rank
Currently, Arconic has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Arconic’s shares were down 4% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Arconic’s earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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Arconic (ARNC) Q1 Earnings and Revenues Top Estimates
Arconic Inc. is a global leader in multi-material, precision engineered products and solutions for a variety of industries.
Earnings
Arconic’s adjusted earnings for the first quarter came in at 34 cents per share. The figure beat the Zacks Consensus Estimate of 32 cents.
Revenues
Arconic reported revenues of $3,445 million, up around 7.9% year over year, which surpassed the Zacks Consensus Estimate of $3,329.6 million.
Arconic Inc. Price and EPS Surprise
Arconic Inc. Price and EPS Surprise | Arconic Inc. Quote
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the first quarter have been stable over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average beat of around 18.1%.
Key Developments to Note
Arconic provided its updated full-year 2018 guidance. The company now expects revenues for 2018 in the range of $13.7 billion to $14 billion (up from $13.4-$13.7 billion). It now sees adjusted earnings to be in the range of $1.17-$1.27 per share (down from $1.45-$1.55 per share) and free cash flow to be around $250 million (down from prior guidance of roughly $500 million).
Zacks Rank
Currently, Arconic has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Arconic’s shares were down 4% in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Arconic’s earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>