ARNC - Arconic GAAP EPS of -$0.36 misses by $0.85 revenue of $2.1B in-line

Arconic press release (NYSE:ARNC): Q4 GAAP EPS of -$0.36 misses by $0.85. Revenue of $2.1B (+40.0% Y/Y) in-line. Tim Myers, Chief Executive Officer, said, “While 2022 is starting with similar challenges, our end markets are strong and we expect to deliver another year of double-digit Adjusted EBITDA growth. We expect to grow organic revenue across all of our markets led by a ramp up in packaging volumes, aerospace market improvement, increased automotive demand, and improved pricing and demand for global industrial products. We also expect to generate approximately $250 million in free cash flow through lower legacy obligations, driving working capital improvements, and growing profitability. Looking beyond 2022, we have previously announced two organic growth initiatives in Lancaster and Davenport that represent the next phase of Adjusted EBITDA growth at strong rates of return.”

For further details see:

Arconic GAAP EPS of -$0.36 misses by $0.85, revenue of $2.1B in-line