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Arconic Inc (ARNC.N)

ARNC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Arconic Board Approves Quarterly Dividends
Friday, 12 Jul 2019 

July 11 (Reuters) - Arconic Inc ::ARCONIC BOARD APPROVES QUARTERLY DIVIDENDS.ARCONIC INC - DECLARED DIVIDEND OF 2 CENTS/SHARE ON OUTSTANDING COMMON STOCK, PAYABLE ON AUGUST 25.  Full Article

Union Membership Authorizes Strike Against Arconic
Friday, 7 Jun 2019 

June 6 (Reuters) - The United Steelworkers : :UNION MEMBERSHIP AUTHORIZES STRIKE AGAINST ARCONIC.UNITED STEELWORKERS - UNION MEMBERS REPRESENTING ARCONIC WORKERS AT CO'S FACILITIES GRANTED NEGOTIATING COMMITTEE AUTHORITY TO IMPLEMENT STRIKE IF NEEDED.UNITED STEELWORKERS - MEMBERS OF LOCAL UNIONS REPRESENT ARCONIC WORKERS AT COMPANY'S FACILITIES IN DAVENPORT, IOWA; LAFAYETTE, IND.; AND MASSENA, N.Y..UNITED STEELWORKERS - STRIKE AUTHORIZATION VOTES WERE CONDUCTED DURING MEETINGS AT EACH LOCATION OVER COURSE OF PAST SEVERAL WEEKS.  Full Article

Arconic Reports Q1 Earnings Per Share At $0.39
Tuesday, 30 Apr 2019 

April 30 (Reuters) - Arconic Inc ::ARCONIC REPORTS FIRST QUARTER 2019 RESULTS.SEES Q2 2019 EARNINGS PER SHARE $0.46 TO $0.51 EXCLUDING ITEMS.Q1 EARNINGS PER SHARE $0.43 EXCLUDING ITEMS.Q1 EARNINGS PER SHARE $0.39.Q1 REVENUE $3.5 BILLION VERSUS REFINITIV IBES ESTIMATE OF $3.53 BILLION.Q1 EARNINGS PER SHARE ESTIMATE $0.39 -- REFINITIV IBES DATA.SEES FULL YEAR 2019 REVENUE $14.3-$14.6 BILLION, SEES FULL YEAR 2019 EARNINGS PER SHARE EXCLUDING SPECIAL ITEMS $1.75-$1.90.SEES 2019 REVENUE $14.3-$14.6 BILLION.FY2019 EARNINGS PER SHARE VIEW $1.64, REVENUE VIEW $14.43 BILLION -- REFINITIV IBES DATA.ACTIONS UNDERWAY TO REDUCE OPERATING COSTS BY APPROXIMATELY $230 MILLION ON A RUN-RATE BASIS.APPROXIMATELY $120 MILLION OF SAVINGS ARE EXPECTED TO BE CAPTURED IN 2019.REDUCED QUARTERLY COMMON STOCK DIVIDEND FROM $0.06 TO $0.02 PER SHARE.Q2 EARNINGS PER SHARE VIEW $0.44 -- REFINITIV IBES DATA.ARCONIC SEPARATION PROJECT TEAM HAS FIXED BUSINESS PERIMETERS OF TWO PUBLIC COMPANIES THAT WILL BE HEADQUARTERED IN PITTSBURGH, PA.GLOBAL ROLLED PRODUCTS WILL COMPRISE ROLLED ALUMINUM PRODUCTS AND ALUMINUM EXTRUSIONS.THE ENGINEERED PRODUCTS & FORGINGS BUSINESS WILL INCLUDE ENGINE COMPONENTS, FASTENING SYSTEMS AND ENGINEERED STRUCTURES.  Full Article

Arconic To Provide Former CEO Charles Blankenship Cash Payment Of $4.6 Mln
Tuesday, 19 Mar 2019 

March 18 (Reuters) - Arconic Inc ::ARCONIC INC - ENTERED INTO A SEPARATION AGREEMENT WITH CHARLES P. BLANKENSHIP, THE FORMER CHIEF EXECUTIVE OFFICER OF THE COMPANY.ARCONIC INC - COMPANY WILL PROVIDE TO BLANKENSHIP A CASH PAYMENT OF $4.6 MILLION.  Full Article

Arconic To Update On BCS Unit Spin Within Nine To 15 Months - Conf Call
Friday, 8 Feb 2019 

Feb 8 (Reuters) - Arconic Inc ::ARCONIC SAYS, REGARDING ALUMINUM PRICES IN 2019, EXPECTS AT LEAST $25 MILLION TAILWIND - CONF CALL.ARCONIC SAYS PLANS TO FOLLOW ACCELERATED TIMELINES AND EXPECTS TO PROVIDE QUARTERLY UPDATES ON PROGRESS OF PORTFOLIO REVIEW - CONF CALL.ARCONIC CEO SAYS IF THE AIRBUS A380 WERE CANCELED, CO WOULD LOSE SOME SALES; ADDS HE WOULDN'T GET TOO CONCERNED ABOUT AN INDIVIDUAL PLATFORM AND FOCUS MORE ON THE WHOLE MARKET.ARCONIC CEO SAYS BOARD FELT IT APPROPRIATE TO MAKE NOT ONLY A NEW DIRECTION IN TERMS OF THE STRATEGIC INTENT OF THE COMPANY, BUT ALSO MAKE A CHANGE IN LEADERSHIP.ARCONIC CEO SAYS COULD HAVE AN UPDATE ON THE SPIN OF THE BUILDING AND CONSTRUCTION SYSTEMS UNIT WITHIN NINE TO 15 MONTHS.ARCONIC CEO ON GRENFELL - PHASE I OF THE PUBLIC INQUIRY IS ABOUT COMPLETE; THERE MIGHT BE A SECOND PUBLIC INQUIRY DEVELOPED FROM THE REPORT THAT COMES OUT OF THE FIRST ONE.ARCONIC CEO ON GRENFELL - SAYS THERE ARE CURRENTLY NO SPECIFIC CLAIMS FOR COMPENSATION COMING FROM IT FROM THE U.S..ARCONIC CEO SAYS, CURRENTLY, MAJORITY OF THE OUTLET FOR CO'S PRODUCTS IS INTO THE LIGHT TRUCK MARKET, PICKUP TRUCK IN PARTICULAR.  Full Article

Arconic Inc Sees 2019 Capex About $700 Mln - Presentation
Friday, 8 Feb 2019 

Feb 8 (Reuters) - Arconic Inc ::ARCONIC INC SEES 2019 CAPEX ABOUT $700 MILLION - PRESENTATION.ARCONIC INC SEES 2019 DEPRECIATION & AMORTIZATION ABOUT $590 MILLION.ARCONIC INC SEES 2019 ADJUSTED. INTEREST EXPENSE ABOUT $360 MILLION, EXCLUDES DEBT MAKE-WHOLE PAYMENTS.ARCONIC INC SEES 6% - 8% ORGANIC GROWTH IN REVENUE FOR 2019.  Full Article

Arconic Reports Q4 EPS Of $0.33 Excluding Items
Friday, 8 Feb 2019 

Feb 8 (Reuters) - Arconic Inc ::ARCONIC REPORTS FOURTH QUARTER 2018 AND FULL YEAR 2018 RESULTS; ANNOUNCES UPDATE TO STRATEGY AND PORTFOLIO REVIEW.Q4 EARNINGS PER SHARE $0.33 EXCLUDING ITEMS.Q4 EARNINGS PER SHARE $0.44.Q4 REVENUE $3.5 BILLION VERSUS REFINITIV IBES ESTIMATE OF $3.42 BILLION.Q4 EARNINGS PER SHARE ESTIMATE $0.30 -- REFINITIV IBES DATA.ARCONIC EXPECTS TO REDUCE ITS QUARTERLY COMMON STOCK DIVIDEND FROM $0.06 TO $0.02 PER SHARE..COMPANY HAS COMMENCED PLANS TO REDUCE OPERATING COSTS BY APPROXIMATELY $200 MILLION ON AN ANNUAL RUN-RATE BASIS.SEES 2019 REVENUE $14.3-$14.6 BILLION.COMMENCED PLANS TO REDUCE OPERATING COSTS BY APPROXIMATELY $200 MILLION ON AN ANNUAL RUN-RATE BASIS..PORTFOLIO WILL BE SEPARATED INTO ENGINEERED PRODUCTS & FORGINGS AND GLOBAL ROLLED PRODUCTS, WITH A SPIN-OFF OF ONE OF BUSINESSES.COMPANY WILL ALSO CONSIDER SALE OF BUSINESSES THAT DO NOT BEST FIT INTO ENGINEERED PRODUCTS & FORGINGS OR GLOBAL ROLLED PRODUCTS.SEES EXPECTS TO REDUCE ITS QUARTERLY COMMON STOCK DIVIDEND FROM $0.06 TO $0.02 PER SHARE..SEES 2019 ADJUSTED EARNINGS PER SHARE $1.55-$1.65.SEES INTENDS TO EXECUTE ITS PREVIOUSLY AUTHORIZED $500 MILLION SHARE REPURCHASE PROGRAM IN FIRST HALF OF 2019.SEES 2019 ADJUSTED FREE CASH FLOW $400-$500 MILLION.BOARD HAS ALSO AUTHORIZED AN ADDITIONAL $500 MILLION OF SHARE REPURCHASES, EFFECTIVE THROUGH END OF 2020.SEES MORE SHAREHOLDER VALUE CREATION THROUGH A RESTRUCTURING OF COMPANY.  Full Article

Arconic Inc - Reached an agreement to sell its Eger, Hungary forgings business
Friday, 7 Dec 2018 

Dec 6 (Reuters) - Arconic Inc ::ARCONIC INC - ON NOV 30, REACHED AN AGREEMENT TO SELL ITS EGER, HUNGARY FORGINGS BUSINESS.ARCONIC INC - EXPECTS TO RECORD A RESTRUCTURING-RELATED CHARGE REPRESENTING A LOSS ON THE SALE OF ABOUT $40 MILLION PRE-TAX - SEC FILING.ARCONIC INC - THE EGER, HUNGARY FORGINGS BUSINESS SALE IS PART OF ARCONIC’S ONGOING STRATEGY REVIEW.  Full Article

Arconic Says The Second Qtr Impact Of Higher Aluminum Prices Was Less Than Expected - Conf Call
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Arconic Inc ARNC.N::ARCONIC CFO - "THE SECOND QUARTER IMPACT OF HIGHER ALUMINUM PRICES WAS LESS THAN EXPECTED BUT UNFAVORABLY IMPACTED OPERATING INCOME BY $20 MILLION YEAR-OVER-YEAR" - CONF CALL.ARCONIC CFO - "WHILE AVERAGE ALUMINUM PRICES FOR THE QUARTER WAS SLIGHTLY HIGHER THAN OUR ASSUMPTION OF $27.20 PER METRIC TON, ALUMINUM PRICES DROPPED AT THE END OF THE QUARTER".ARCONIC SAYS ADJUSTED OPERATING INCOME MARGIN PERCENT WAS 10.7 PERCENT FOR Q2; MORE THAN 80 PERCENT OF THE YEAR-OVER-YEAR MARGIN DECLINE WAS DUE TO HIGHER ALUMINUM PRICES.ARCONIC SAYS GUIDANCE ASSUMES AN ALUMINUM PRICE OF $2,720 PER METRIC TON FOR THE REMAINDER OF THE YEAR.ARCONIC SEES ALUMINUM PRICE AVERAGE OF $2,664 PER METRIC TON FOR THE FULL YEAR.ARCONIC SAYS ESTIMATED UNFAVORABLE ALUMINUM PRICE IMPACT FOR THE YEAR VERSUS 2017 REMAINS UNCHANGED AT ABOUT $130 MILLION.ARCONIC SAYS CONTINUE TO HAVE RISK IN OUR SAMARA FACILITY IN RUSSIA, AS WELL AS THE IMPACT OF UNFAVORABLE SCRAP SPREADS.  Full Article

Arconic Board Approves Quarterly Dividends
Thursday, 17 May 2018 

May 17 (Reuters) - Arconic Inc ::ARCONIC BOARD APPROVES QUARTERLY DIVIDENDS.ARCONIC INC - BOARD OF DIRECTORS OF ARCONIC DECLARED A DIVIDEND OF 6 CENTS PER SHARE ON OUTSTANDING COMMON STOCK OF COMPANY.  Full Article

Arconic to split into two after rebuffing Apollo offer

Arconic said on Friday it would split into two companies and slashed its quarterly dividend by two-thirds, just weeks after the U.S. aluminum products maker spurned a buyout offer from Apollo Global Management.