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Arconic releases up-and-down earnings news

HUTCHINSON, Kan. — Arconic reported second-quarter earnings and revenue that beat expectations, according to Market Watch.

The company, which employs 75 workers at the Hutchinson facility, also saw a 10 percent increase in revenue at $3.6 billion

The only negative number for the company came from its net income, which totaled $120 million, or $0.24 per share, versus $212 million, or $0.43 per share, in the second quarter of 2017.

The metal finishing company’s three business segments — transportation and construction, global rolled products, and engineered products and solutions — all beat revenue expectations.

Arconic’s global rolled products division reported revenue of $1.5 billion, an increase of 14 percent year-over-year. Organic revenue was up 5 percent. The segment was hurt by an unfavorable market in wide body aerospace production and higher aluminum prices. Operating profit was $123 million, down $10 million year-over-year.

Tyson is next in line to report its quarterly earnings. The poultry and meat giant releases its numbers on Monday.

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