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Arconic profit beats consensus by 21.9% in Q1

Arconic Inc. said its normalized net income for the first quarter came to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS rose year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $143.1 million, a gain of 17.4% from $121.9 million in the prior-year period.

The normalized profit margin rose to 4.5% from 4.0% in the year-earlier period.

Total revenue grew on an annual basis to $3.19 billion from $3.06 billion, and total operating expenses increased year over year to $2.85 billion from $2.75 billion.

Reported net income rose 252.3% on an annual basis to $324.0 million, or 65 cents per share, from $92.0 million, or 21 cents per share.