Stock Market News

Arconic Shares Plunge 8% on Q3 Preliminary Results & Cut Full-Year Guidance

2022.09.14 18:05

[ad_1]


© Reuters. Arconic Shares Plunge 8% on Q3 Preliminary Results & Cut Full-Year Guidance

By Davit Kirakosyan

Arconic Corp (NYSE:) shares dropped more than 8% after-hours following the announced preliminary operating results for Q3/22 and updated full 2022-year outlook.

Q3 adjusted EBITDA is expected in the range of $135-$150 million, impacted by production outages and other operational challenges in Tennessee and Davenport that have reduced production from planned operating rates.

Furthermore, hyperinflationary energy costs that drive increased cost pressures and declining demand in Europe, are expected to have an increasingly negative impact on Q3 and Q4 results.

Full-year revenue is expected to be in the range of $9.2-$9.5 billion, compared with the prior expected range of $9.6-$10.0 billion, reflecting the impact of operational issues and the combination of demand declines and higher unhedged energy costs in Europe. The company expects adjusted EBITDA to be in the range of $715-$765 million, compared with the previous expectation of the low end of the range of $820-$870 million.

[ad_2]

Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,201.29 0.23%
ethereum
Ethereum (ETH) $ 1,907.54 0.93%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.34 0.95%
bnb
BNB (BNB) $ 627.81 4.12%
solana
Solana (SOL) $ 127.62 1.67%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.719261 1.24%
dogecoin
Dogecoin (DOGE) $ 0.171412 1.42%
tron
TRON (TRX) $ 0.21549 0.23%
staked-ether
Lido Staked Ether (STETH) $ 1,905.03 0.91%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,986.23 0.22%
pi-network
Pi Network (PI) $ 1.35 7.77%
leo-token
LEO Token (LEO) $ 9.82 0.73%
chainlink
Chainlink (LINK) $ 13.69 0.66%
the-open-network
Toncoin (TON) $ 3.42 0.96%
stellar
Stellar (XLM) $ 0.27201 2.49%
usds
USDS (USDS) $ 0.999981 0.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,286.64 1.18%
hedera-hashgraph
Hedera (HBAR) $ 0.191408 1.96%
avalanche-2
Avalanche (AVAX) $ 18.47 0.81%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.17%
sui
Sui (SUI) $ 2.27 0.90%
litecoin
Litecoin (LTC) $ 92.83 3.73%
mantra-dao
MANTRA (OM) $ 6.84 3.79%
bitcoin-cash
Bitcoin Cash (BCH) $ 336.92 2.84%
polkadot
Polkadot (DOT) $ 4.35 2.30%
ethena-usde
Ethena USDe (USDE) $ 0.999455 0.05%
bitget-token
Bitget Token (BGB) $ 4.42 0.89%
weth
WETH (WETH) $ 1,907.32 0.95%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.24%
hyperliquid
Hyperliquid (HYPE) $ 13.74 2.08%
whitebit
WhiteBIT Coin (WBT) $ 28.47 0.58%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,027.63 0.98%
monero
Monero (XMR) $ 211.02 0.60%
uniswap
Uniswap (UNI) $ 6.20 2.39%
susds
sUSDS (SUSDS) $ 1.04 0.09%
aptos
Aptos (APT) $ 5.37 2.83%
dai
Dai (DAI) $ 0.999808 0.02%
near
NEAR Protocol (NEAR) $ 2.54 0.18%
pepe
Pepe (PEPE) $ 0.000007 4.50%
okb
OKB (OKB) $ 48.68 6.20%
mantle
Mantle (MNT) $ 0.835131 3.21%
internet-computer
Internet Computer (ICP) $ 5.75 1.91%
ondo-finance
Ondo (ONDO) $ 0.850589 2.27%
gatechain-token
Gate (GT) $ 21.72 2.72%
ethereum-classic
Ethereum Classic (ETC) $ 17.82 2.65%
aave
Aave (AAVE) $ 170.16 2.60%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,161.28 0.26%
crypto-com-chain
Cronos (CRO) $ 0.088058 6.87%