Arconic Inc. (NYSE: ARNC), New York, NY – the recent spinoff from Alcoa Inc. – reported sales for the first quarter of $3.2 billion, a 4.5 percent gain year-over-year. Profit increased to $322 million from $16 million in the first quarter of 2016.
"Solid performance, strong net cost reduction and some additional tailwinds allowed Arconic to deliver a stronger than anticipated first quarter of 2017," said Arconic interim CEO David Hess. "The aerospace market is continuing its transition to new platforms where we are strongly positioned. We continue to be focused on capital efficiency, growth, cost reduction and margin expansion, in line with our stated strategy."
