ARNC - Arconic GAAP EPS of $0.39 revenue of $2.2B; updates FY22 guidance

Arconic press release (NYSE:ARNC): Q1 GAAP EPS of $0.39. Revenue of $2.2B (+31.0% Y/Y). Outlook: Arconic revenue expectations are now in the range of $10.1 billion to $10.5 billion for full-year 2022 compared with the prior expected range of $9.9 billion to $10.3 billion vs. consensus of $9.86B. Adjusted EBITDA is now expected to be in the range of $820 million to $870 million compared with the prior range of $800 million to $850 million. Adjusted free cash flow outlook for full-year 2022 is now approximately $125 million compared with the prior outlook of approximately $250 million due to higher working capital use associated with the increase in aluminum prices.

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Arconic GAAP EPS of $0.39, revenue of $2.2B; updates FY22 guidance