Arconic Inc. logged profits (as reported) of $187 million or 39 cents per share in first-quarter 2019, up from $143 million or 29 cents in the prior-year quarter.
Barring one-time items, adjusted earnings per share came in at 43 cents. The figure beat the Zacks Consensus Estimate of 40 cents.
Arconic generated revenues of $3,541 million, up around 2.8% year over year. It missed the Zacks Consensus Estimate of $3,546 million.
Segment Highlights
Engineered Products and Solutions (EP&S): Revenues in the division totaled $1.5 billion, up 5% year over year. Organic revenues in the segment rose 7%, which were supported by volume growth in aerospace engines and defense.
Global Rolled Products (GRP): Revenues in the division amounted to $1.5 billion in the quarter, up 1% year over year. Organic revenues in the segment rose 10%.
Transportation and Construction Solutions (TCS): Revenues in the segment were $535 million, flat year over year. Organic revenues in the segment rose 7%.
Financial Position
As of Mar 31, 2019, Arconic had cash and cash equivalents of roughly $1,319 million, up around 9.5% year over year. Long-term debt fell roughly 6.5% year over year to $5,899 million.
Cash used for operations was $258 million in the quarter.
Outlook
Arconic provided updated full-year 2019 guidance. The company expects revenues in the range of $14.3-$14.6 billion. Adjusted earnings are expected in the range of $1.75-$1.90 per share. Adjusted free cash flow is projected between $650 million and $750 million.
Price Performance
Arconic's shares have gained 19.3% in the past year against the industry’s 19.7% decline.
Zacks Rank & Other Key Picks
Arconic currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space include Sandstorm Gold Ltd. (SAND - Free Report) , Flexible Solutions International Inc (FSI - Free Report) and W. R. Grace & Co .
Sandstorm Gold has an expected earnings growth rate of 200% for the current year and sports a Zacks Rank #1 (Strong Buy). The company’s shares have gained around 12.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Flexible Solutions has an expected earnings growth rate of 171.4% for the current year and carries a Zacks Rank #2. Its shares have surged roughly 102.2% in the past year.
W. R. Grace has an expected earnings growth rate of 10.4% for the current year and carries a Zacks Rank #2. Its shares have gained around 9.8% in the past year.
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Arconic Inc. logged profits (as reported) of $187 million or 39 cents per share in first-quarter 2019, up from $143 million or 29 cents in the prior-year quarter.
Barring one-time items, adjusted earnings per share came in at 43 cents. The figure beat the Zacks Consensus Estimate of 40 cents.
Arconic generated revenues of $3,541 million, up around 2.8% year over year. It missed the Zacks Consensus Estimate of $3,546 million.
Segment Highlights
Engineered Products and Solutions (EP&S): Revenues in the division totaled $1.5 billion, up 5% year over year. Organic revenues in the segment rose 7%, which were supported by volume growth in aerospace engines and defense.
Global Rolled Products (GRP): Revenues in the division amounted to $1.5 billion in the quarter, up 1% year over year. Organic revenues in the segment rose 10%.
Transportation and Construction Solutions (TCS): Revenues in the segment were $535 million, flat year over year. Organic revenues in the segment rose 7%.
Financial Position
As of Mar 31, 2019, Arconic had cash and cash equivalents of roughly $1,319 million, up around 9.5% year over year. Long-term debt fell roughly 6.5% year over year to $5,899 million.
Cash used for operations was $258 million in the quarter.
Outlook
Arconic provided updated full-year 2019 guidance. The company expects revenues in the range of $14.3-$14.6 billion. Adjusted earnings are expected in the range of $1.75-$1.90 per share. Adjusted free cash flow is projected between $650 million and $750 million.
Price Performance
Arconic's shares have gained 19.3% in the past year against the industry’s 19.7% decline.
Zacks Rank & Other Key Picks
Arconic currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space include Sandstorm Gold Ltd. (SAND - Free Report) , Flexible Solutions International Inc (FSI - Free Report) and W. R. Grace & Co .
Sandstorm Gold has an expected earnings growth rate of 200% for the current year and sports a Zacks Rank #1 (Strong Buy). The company’s shares have gained around 12.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Flexible Solutions has an expected earnings growth rate of 171.4% for the current year and carries a Zacks Rank #2. Its shares have surged roughly 102.2% in the past year.
W. R. Grace has an expected earnings growth rate of 10.4% for the current year and carries a Zacks Rank #2. Its shares have gained around 9.8% in the past year.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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