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Arconic Inc (ARNC.N)

ARNC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Arconic Says Q2 Impact Of Higher Aluminum Prices Was Less Than Expected
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Arconic Inc ARNC.N::ARCONIC - CONTINUE TO HAVE HEDGING RISK IN SAMARA FACILITY IN RUSSIA, AS WELL AS IMPACT OF UNFAVORABLE SCRAP SPREADS.ARCONIC CFO - "THE SECOND QUARTER IMPACT OF HIGHER ALUMINUM PRICES WAS LESS THAN EXPECTED BUT UNFAVORABLY IMPACTED OPERATING INCOME BY $20 MILLION YEAR-OVER-YEAR" - CONF CALL.ARCONIC CFO - "WHILE AVERAGE ALUMINUM PRICES FOR THE QUARTER WAS SLIGHTLY HIGHER THAN OUR ASSUMPTION OF $27.20 PER METRIC TON, ALUMINUM PRICES DROPPED AT THE END OF THE QUARTER".ARCONIC SAYS ADJUSTED OPERATING INCOME MARGIN PERCENT WAS 10.7 PERCENT FOR Q2; MORE THAN 80 PERCENT OF THE YEAR-OVER-YEAR MARGIN DECLINE WAS DUE TO HIGHER ALUMINUM PRICES.ARCONIC SAYS GUIDANCE ASSUMES AN ALUMINUM PRICE OF $2,720 PER METRIC TON FOR THE REMAINDER OF THE YEAR.ARCONIC SEES ALUMINUM PRICE AVERAGE OF $2,664 PER METRIC TON FOR THE FULL YEAR.ARCONIC SAYS ESTIMATED UNFAVORABLE ALUMINUM PRICE IMPACT FOR THE YEAR VERSUS 2017 REMAINS UNCHANGED AT ABOUT $130 MILLION.  Full Article

Arconic Reports Q2 Earnings Per Share $0.37 Excluding Items
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Arconic Inc ARNC.N::ARCONIC REPORTS SECOND QUARTER 2018 RESULTS.Q2 EARNINGS PER SHARE $0.37 EXCLUDING ITEMS.Q2 EARNINGS PER SHARE $0.24.Q2 REVENUE $3.6 BILLION VERSUS I/B/E/S VIEW $3.49 BILLION.Q2 EARNINGS PER SHARE VIEW $0.29 -- THOMSON REUTERS I/B/E/S.PREVIOUSLY ANNOUNCED 2018 GUIDANCE IS UNCHANGED.INITIATED SALE PROCESS OF OUR BUILDING AND CONSTRUCTION SYSTEMS BUSINESS AS FIRST OUTCOME OF OUR ONGOING STRATEGY REVIEW.CONTINUES TO TARGET COMPLETION OF STRATEGIC REVIEW IN Q3 2018.  Full Article

Arconic Board Approves Quarterly Dividend
Friday, 27 Jul 2018 

July 27 (Reuters) - Arconic Inc ARNC.N::ARCONIC BOARD APPROVES QUARTERLY DIVIDEND.ARCONIC INC - DECLARED A DIVIDEND OF 93.75 CENTS PER SHARE ON ARCONIC'S $3.75 CUMULATIVE PREFERRED STOCK.  Full Article

Arconic Says Board Approved, Adopted Legal Fee Reimbursement Plan
Tuesday, 1 May 2018 

May 1 (Reuters) - Arconic Inc ::ARCONIC - NOTIFIED WELLS FARGO BANK THAT POTENTIAL CHANGE IN CONTROL, AS DEFINED IN SEPT 24, 2007 TRUST AGREEMENT NO LONGER EXISTED AS OF APRIL 13.ARCONIC-NOTIFIED WELLS FARGO BANK, ON APRIL 30, BOARD APPROVED REVOCATION, TERMINATION OF GRANTOR TRUST CREATED PURSUANT TO SEPT 2007 AGREEMENT TERMS.ARCONIC - ON APRIL 30, 2018, THE BOARD APPROVED AND ADOPTED A LEGAL FEE REIMBURSEMENT PLAN - SEC FILING.  Full Article

Arconic Says Updated 2018 Guidance Assumes Current Aluminum Prices Will Hold At These Elevated Levels
Monday, 30 Apr 2018 

April 30 (Reuters) - Arconic Inc ::ARCONIC SAYS REVENUE FOR Q1, WAS UP 8 PERCENT YEAR-OVER-YEAR AS ALUMINUM PRICES ACCOUNTED FOR $109 MILLION OR ABOUT 40 PERCENT OF THE INCREASE - CONF CALL.ARCONIC SAYS UPDATED 2018 GUIDANCE ASSUMES THAT CURRENT ALUMINUM PRICES WILL HOLD AT THESE ELEVATED LEVELS - CONF CALL.ARCONIC SAYS REDUCED GUIDANCE ASSUMES ALUMINUM PRICE AND MIDWEST PREMIUM OF $2,720 PER METRIC TON FOR Q2 THROUGH Q4 AT AVERAGE ALUMINUM PRICE AND MIDWEST PREMIUM OF $2,660 PER METRIC TON - CONF CALL.ARCONIC SAYS BEEN IN ACTIVE DISCUSSIONS WITH VARIOUS DEPARTMENTS OF THE U.S. GOVERNMENT ON THE PROCESS OF SANCTION SUPPLY - CONF CALL.ARCONIC SAYS SOME OF OUR OPERATIONS DOING BUSINESS WITH RUSAL FOR THEIR PRIMARY ALUMINUM SUPPLY ARE OPERATING NORMALLY - CONF CALL.  Full Article

Arconic To Freeze Pension Plans For U.S.-Based Salaried, Non-Bargained Hourly Employees
Monday, 8 Jan 2018 

Jan 8 (Reuters) - Arconic Inc ::ARCONIC TO FREEZE PENSION PLANS FOR U.S.-BASED SALARIED AND NON-BARGAINED HOURLY EMPLOYEES.ARCONIC INC - IN Q1 OF 2018, CO EXPECTS TO RECORD LIABILITY DECREASE OF ABOUT $140 MILLION RELATED TO REDUCTION OF FUTURE BENEFITS.ARCONIC INC - ‍FOR FY 2018, COMPANY EXPECTS PENSION-RELATED EXPENSE TO BE LOWER BY APPROXIMATELY $50 MILLION PRE-TAX COMPARED TO 2017 FULL-YEAR EXPENSES​.ARCONIC INC - ‍RETIREES ALREADY COLLECTING BENEFITS AND FORMER EMPLOYEES WITH VESTED BENEFITS UNDER PENSION PLANS WILL NOT BE IMPACTED BY THE CHANGE​.ARCONIC INC - ‍PROVIDING ADDITIONAL TRANSITION CONTRIBUTION OF 3% OF ELIGIBLE COMPENSATION FOR REMAINING NINE MONTHS OF 2018 FOR AFFECTED EMPLOYEES​.  Full Article

Elliott Says Elliott, Elliott International & Eica Have Combined Economic Exposure In Arconic Of About 12.1 Pct Of Arconic's Shares As Of Dec. 19
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Arconic Inc ::ELLIOTT SAYS ELLIOTT, ELLIOTT INTERNATIONAL & EICA HAVE COMBINED ECONOMIC EXPOSURE IN ARCONIC OF ABOUT 12.1 PERCENT OF ARCONIC'S SHARES AS OF DEC. 19.ELLIOTT SAYS AS OF CLOSE OF BUSINESS ON MAY 30, ELLIOTT INTERNATIONAL, EICA HAD COMBINED ECONOMIC EXPOSURE OF ABOUT 13.2 PERCENT OF ARCONIC SHARES.  Full Article

Arconic Divests Its Latin America Extrusions Business
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Arconic Inc ::ARCONIC DIVESTS ITS LATIN AMERICA EXTRUSIONS BUSINESS.ARCONIC DIVESTS ITS LATIN AMERICA EXTRUSIONS BUSINESS.ARCONIC INC - ‍UNDER TERMS OF AGREEMENT, ARCONIC WILL RECEIVE APPROXIMATELY $10 MILLION IN CASH FOR LAE BUSINESS​.ARCONIC INC - ‍ BUSINESS IS PART OF COMPANY'S TRANSPORTATION AND CONSTRUCTION SOLUTIONS SEGMENT​.ARCONIC INC - DEAL IS EXPECTED TO CLOSE IN FIRST HALF OF 2018.ARCONIC INC - RESTRUCTURING-RELATED CHARGE PRIMARILY RELATES TO NON-CASH IMPAIRMENT OF NET BOOK VALUE OF BUSINESS.ARCONIC INC - ‍ RESTRUCTURING-RELATED CHARGE IS A SPECIAL ITEM AND WILL NOT IMPACT ADJUSTED EARNINGS PER SHARE IN Q4 OF 2017​.ARCONIC - WILL RECOGNIZE RESTRUCTURING-RELATED CHARGE REPRESENTING LOSS ON SALE OF ABOUT $40 MILLION AFTER-TAX, OR $0.08 PER DILUTED SHARE, IN Q4 2017.ARCONIC - POST REGULATORY, ANTI-TRUST REVIEWS, OWNERSHIP OF LATIN AMERICA EXTRUSIONS WILL BE TRANSFERRED TO A UNIT OF HYDRO EXTRUDED SOLUTIONS AS.  Full Article

Arconic Shareholders Approve Delaware Reincorporation
Thursday, 30 Nov 2017 

Nov 30 (Reuters) - Arconic Inc ::ARCONIC SHAREHOLDERS APPROVE DELAWARE REINCORPORATION.ARCONIC - SHAREHOLDERS HAVE APPROVED COMPANY'S REINCORPORATION FROM PENNSYLVANIA TO DELAWARE.ARCONIC - SHAREHOLDERS ALSO APPROVED ANNUAL ELECTION OF FULL ARCONIC BOARD FOLLOWING REINCORPORATION.ARCONIC INC - CURRENTLY EXPECTS REINCORPORATION MERGER TO BE EFFECTIVE ON OR ABOUT DECEMBER 31, 2017.  Full Article

Arconic ‍announces plans to install new horizontal heat treat furnace
Monday, 20 Nov 2017 

Nov 20 (Reuters) - Arconic Inc ::Arconic Inc - ‍announced plans to install a new horizontal heat treat furnace at its davenport works facility in Iowa​.Arconic Inc - ‍$137 million investment is supported by economic development financial assistance from Iowa department of economic development & riverdale​.Arconic Inc - ‍construction on project is expected to begin late this year with commercial production expected to start in 2019​.  Full Article

UPDATE 1-Aluminum products maker Arconic in talks to sell itself -sources

Aug 24 Aluminum products maker Arconic Inc is discussing acquisition offers for the entire company, even though it announced a sale process last month only for its building and construction systems unit, people familiar with the matter said.