trending Market Intelligence /marketintelligence/en/news-insights/trending/d4odc1vvmplc5rnddt1z7a2 content esgSubNav
In This List

Arconic narrows loss in Q4'17

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


Arconic narrows loss in Q4'17

Arconic Inc. narrowed its net loss for the fourth quarter of 2017 to $727 million, or $1.51 per share from $1.26 billion, or $2.91 per share, in the comparable prior-year period, citing the effect of special items.

The special items, worth $879 million, included "impairments of goodwill in the forgings and extrusions business and assets in the Latin America extrusions business, the impact of U.S. tax reform, and reduction of liabilities for a contingent earn-out and a separation-related guarantee."

Excluding special items, the company reported adjusted income of $152 million, or 31 cents per share for the quarter ending Dec. 31, 2017, up $71 million, or 12 cents per share, driven by net cost savings and higher volumes.

Revenue stood at $3.27 billion, up 10% from $2.97 billion in fourth quarter 2016, reflecting higher volumes across all segments and higher aluminum prices.

The engineered products and solutions segment posted revenue of $1.49 billion, up 6% from $1.41 billion in the fourth quarter of 2016, while the global rolled products segment rose 15% to $1.24 billion from $1.08 billion. Transportation and construction solutions segment came in at $518 million, up 14% from $456 million.

Consolidated adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, were $436 million, up 54% from $284 million in the fourth quarter of 2016.

In full-year terms, Arconic posted a net loss of $74 million, or 28 cents per share, in 2017, down from $941 million, or $2.31 per share, in 2016.

The company announced an estimated $500 million share repurchase program and $500 million early debt reduction. The company also announced its plans to move global headquarters out of New York this year.