NEW YORK (AP) _ Arconic Inc. (ARNC) on Monday reported first-quarter profit of $143 million.
On a per-share basis, the New York-based company said it had profit of 29 cents. Earnings, adjusted for one-time gains and costs, were 34 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The maker of engineered products for the aerospace and other industries posted revenue of $3.45 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.33 billion.
Arconic expects full-year earnings in the range of $1.17 to $1.27 per share, with revenue in the range of $13.7 billion to $14 billion.
Arconic shares have decreased 18 percent since the beginning of the year. The stock has decreased 18 percent in the last 12 months.
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