Arconic Reports First Quarter 2021 Results and Raises Outlook
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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US:NYSE Investor Relations:
arconic.com/global/en/investors/overview.asp
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Source: Business Wire
First Quarter 2021 HighlightsSales of $1.7 billion, up 4% year over year, and up 15% from prior quarterNet income of $52 million, or $0.46 per share, compared with $46 million, or $0.42 per share, in first quarter 2020Adjusted EBITDA of $179 million, down 12% year over year, up 19% from prior quarter, and Adjusted EBITDA margin of 10.7%Significant contract wins:Secured long-term contracts representing more than $2 billion in aerospace revenueNegotiated agreements representing approximately $1.5 billion in North American packaging revenue from 2022-2024Post-Quarter HighlightsCompleted $1 billion U.S. pension partial annuitizationBoard authorized $300 million share repurchase program PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC) (“Arconic” or “the Company”) today reported first quarter 2021 results. Revenue was $1.7 billion, up 15% from the prior quarter primarily because of higher aluminum prices. Net income was $52 million, or $0.46 per share, compared with $46 mill
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