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Arconic Inc (ARNC.N)

ARNC.N on New York Stock Exchange

19.74USD
14 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Arconic Buyout Deal Could Be Announced By Mid-December - CNBC
Monday, 19 Nov 2018 09:50am EST 

Nov 19 (Reuters) - :ARCONIC BUYOUT DEAL COULD BE ANNOUNCED BY MID-DECEMBER - CNBC, CITING SOURCES.ELLIOTT MANAGEMENT HAS BEEN PUSHING ARCONIC TO EXPLORE A SALE; ELLIOTT IS EXPECTED TO ROLL ITS EQUITY IN THE COMPANY INTO THE BUYOUT- CNBC.  Full Article

Arconic Is Looking Across Product Lines And Evaluating Next Steps as Strategic Review Nears Completion
Tuesday, 30 Oct 2018 11:15am EDT 

Oct 30 (Reuters) - Arconic Inc ::ARCONIC SAYS GOAL OF CO’S STRATEGIC REVIEW IS TO DEVELOP ACTIONS THAT WILL ENHANCE SHAREHOLDER VALUE, STREAMLINE PORTFOLIO, TIGHTEN FOCUS AND STRENGTHEN FINANCIAL PROFILE - CONF CALL.ARCONIC SAYS CONTINUES TO SEE ‘UNPRECEDENTED CUSTOMER DEMAND’ FOR CO’S PRODUCTS IN ENGINEERED PRODUCTS AND SOLUTIONS UNIT - CONF CALL.ARCONIC SAYS CO IS FOCUSED ON IMPROVING THROUGHPUT AND CAPACITY TO MEET THAT DEMAND IN THE EP&S BUSINESS- CONF CALL.ARCONIC EXPECTS PRICE OF $2,561 PER METRIC TON OF ALUMINUM FOR 2018 VERSUS $2,720, PREVIOUSLY - CONF CALL.ARCONIC SAYS CO’S 15,000-TON PRESS IN CLEVELAND WORKS FACILITY EXPERIENCED A HYDRAULIC LEAK RESULTING FROM A CRACKED CYLINDER THAT CAUSED OPERATORS TO SHUT DOWN THE PRESS - CONF CALL.ARCONIC SAYS LENGTH OF THE OUTAGE HAS NOT YET BEEN DETERMINED BUT CO DOES NOT ANTICIPATE RETURN TO SERVICE IN Q4- CONF CALL.ARCONIC SAYS COS IS MOVING WORK TO OTHER PRESSES IN THE FACILITY AND WORKING WITH CUSTOMERS TO PRIORITIZE SHIPMENTS - CONF CALL.ARCONIC SAYS CO’S RINGS AND DISKS OPERATIONS ARE STABILIZING - CONF CALL.ARCONIC SAYS CO HAS BEGUN MAKING PARTS ACROSS OTHER PRESSES IN THE CLEVELAND FACILITY.ARCONIC SAYS, WITH RESPECT TO THE STRATEGIC REVIEW, CO IS LOOKING ACROSS PRODUCT LINES AND EVALUATING NEXT STEPS.ARCONIC SAYS SEE NO MATERIAL UPDATE TO THE LIABILITIES ASSOCIATED WITH THE GRENFELL TOWER.ARCONIC SAYS CONTINUES TO SEE PRICING PRESSURE ACROSS ENTIRE PORTFOLIO IN THE EP&S UNIT.  Full Article

Arconic Announces Sale Of Its Texarkana, Texas, Rolling Mill
Monday, 1 Oct 2018 04:30pm EDT 

Oct 1 (Reuters) - Arconic Inc ::ARCONIC ANNOUNCES SALE OF ITS TEXARKANA, TEXAS, ROLLING MILL.ARCONIC INC - * TEXARKANA WILL BE SOLD FOR APPROXIMATELY $300 MILLION IN CASH PLUS CONTINGENT CONSIDERATION OF UP TO $50 MILLION.ARCONIC INC - COMPANY EXPECTS TO RECORD A GAIN ON SALE.ARCONIC INC - TO SELL ITS TEXARKANA, TEXAS ROLLING MILL TO TA CHEN INTERNATIONAL, INC.  Full Article

Arconic Sets Quarterly Dividend Of $0.06 Per Share
Thursday, 27 Sep 2018 04:30pm EDT 

Sept 27 (Reuters) - Arconic Inc ::SETS QUARTERLY DIVIDEND OF $0.06PER SHARE.  Full Article

Arconic Says Q2 Impact Of Higher Aluminum Prices Was Less Than Expected
Tuesday, 31 Jul 2018 04:47pm EDT 

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 08:00am EDT 

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 08:30am EDT 

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 05:43pm EDT 

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 11:04am EDT 

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 08:15am EST 

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

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U.S. locks in duties on Chinese aluminum sheet imports

WASHINGTON The U.S. International Trade Commission said on Friday it made a final determination that American producers were being harmed by imports of common alloy aluminum sheet products from China, a finding that locks in duties on the products.