Arconic beats by $0.06, beats on revs; raises FY17 EPS and revs guidance, in-line :
- Reports Q2 (Jun) earnings of $0.32 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.26; revenues rose 0.8% year/year to $3.26 bln vs the $3.18 bln Capital IQ Consensus
- All segments delivered higher volumes while maintaining focus on cost reduction savings. Annualized return on net assets was 8.7% based on the results of the first half of 2017.
- Co raised guidance for FY17, sees EPS of $1.15-1.20, excluding non-recurring items, vs. $1.16 Capital IQ Consensus Estimate, from $1.10-1.20; raises FY17 revs guidance to $12.3-12.7 bln vs. $12.43 bln Capital IQ Consensus Estimate, up from $11.8-12.4 bln.
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