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.