Arconic Q2 EPS $0.58 Beats $0.38 Estimate, Sales $1.99B Miss $2.08B Estimate
Portfolio Pulse from Benzinga Newsdesk
Arconic (NYSE: ARNC) reported Q2 earnings of $0.58 per share, beating the analyst consensus estimate of $0.38 by 52.63%. However, this is a 44.76% decrease from the same period last year. The company's quarterly sales of $1.99 billion missed the analyst consensus estimate of $2.08 billion by 4.33%, marking a 21.90% decrease from the same period last year.
July 31, 2023 | 9:03 pm
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Arconic's Q2 earnings beat estimates but sales missed, and both are down from last year.
Arconic's earnings beat estimates, which is positive. However, the fact that both earnings and sales are down from the same period last year is a negative signal. The missed sales estimate could indicate potential challenges in the company's operations or market conditions, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100