Arconic Inc. is a global leader in multi-material, precision engineered products and solutions for a variety of industries. The company holds strong positions in attractive markets including aerospace and automotive. It also remains focused on cost reduction and productivity improvements across its businesses.
Let’s have a quick look at the company’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the third quarter remained stable over the past week. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average beat of around 13.4%.
Earnings
Arconic’s adjusted earnings for the quarter came in at 25 cents per share. Earnings missed the Zacks Consensus Estimate of 27 cents.
Revenues
Arconic reported revenues of $3,236 million, up around 3% year over year. That surpassed the Zacks Consensus Estimate of $3,129 million.
Key Developments to Note
Arconic reaffirmed its full-year adjusted earnings guidance. However, the company updated its revenue and capital expenditures outlook for 2017.
The company now sees revenues for 2017 in the range of $12.6 billion to $12.8 billion (up from $12.3 billion to $12.7 billion expected earlier). Arconic now expects capital expenditure to be roughly $600 million, compared with its prior view of up to $650 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 up around 2% 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!
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Arconic (ARNC) Q3 Earnings Miss, Revenues Top Estimates
Arconic Inc. is a global leader in multi-material, precision engineered products and solutions for a variety of industries. The company holds strong positions in attractive markets including aerospace and automotive. It also remains focused on cost reduction and productivity improvements across its businesses.
Let’s have a quick look at the company’s third-quarter 2017 release.
Estimate Trend & Surprise History
Investors should note that the earnings estimate for Arconic for the third quarter remained stable over the past week. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average beat of around 13.4%.
Arconic Inc. Price and EPS Surprise
Arconic Inc. Price and EPS Surprise | Arconic Inc. Quote
Earnings
Arconic’s adjusted earnings for the quarter came in at 25 cents per share. Earnings missed the Zacks Consensus Estimate of 27 cents.
Revenues
Arconic reported revenues of $3,236 million, up around 3% year over year. That surpassed the Zacks Consensus Estimate of $3,129 million.
Key Developments to Note
Arconic reaffirmed its full-year adjusted earnings guidance. However, the company updated its revenue and capital expenditures outlook for 2017.
The company now sees revenues for 2017 in the range of $12.6 billion to $12.8 billion (up from $12.3 billion to $12.7 billion expected earlier). Arconic now expects capital expenditure to be roughly $600 million, compared with its prior view of up to $650 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 up around 2% 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!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>