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Arconic profit misses consensus by 36.3% in Q2

Arconic Inc. said its normalized net income for the second quarter was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS decreased 46.8% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $77.5 million, a decline of 45.6% from $142.5 million in the year-earlier period.

The normalized profit margin dropped to 2.4% from 4.4% in the year-earlier period.

Total revenue totaled $3.26 billion, compared with $3.23 billion in the year-earlier period, and total operating expenses climbed year over year to $2.96 billion from $2.90 billion.

Reported net income rose 415.8% year over year to $196.0 million, or 42 cents per share, from $38.0 million, or 8 cents per share.