HUTCHINSON, Kan. — Arconic announced its quarterly earnings before the bell Tuesday. The spin-off company of Alcoa posted earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise as most felt the embattled company would see decline because of aluminum prices and uncertainty about the company’s future. Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Arconic, the metals finishing company, posted revenues of $3.52 billion for the quarter that ended September 2018, surpassing the Zacks Consensus Estimate by 1.14 percent. This compares to revenues of $3.24 billion a year ago. The company has topped consensus revenue estimates four times over the last four quarters.
Arconic employs about 75 workers in Hutchinson doing finishing work for the aerospace industry.
The next company with ties to the area to report its quarterly results will be Siemens Gamesa Nov. 6.