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Arconic Q3 profit climbs 6.4% YOY


According to Market Intelligence, December 2022


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Arconic Q3 profit climbs 6.4% YOY

Arconic Inc. said its third-quarter normalized net income amounted to 25 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS rose year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.4 million, an increase of 6.4% from $107.5 million in the prior-year period.

The normalized profit margin rose to 3.5% from 3.4% in the year-earlier period.

Total revenue grew year over year to $3.24 billion from $3.14 billion, and total operating expenses climbed on an annual basis to $2.95 billion from $2.85 billion.

Reported net income increased 106.0% from the prior-year period to $103.0 million, or 22 cents per share, from $50.0 million, or 11 cents per share.