Arconic Reports Mixed 2Q Results; Announces Intent to Sell BCS Business Amid Portfolio Review
Arconic reported mixed second-quarter results. Impressive profit growth from the transportation and construction solutions segment offset lower profits for both the engineered products and solutions and global rolled products segments versus the prior-year period. With our forecasts largely unchanged, our fair value estimate of $23 per share remains intact. We also maintain our no-moat rating.Management reiterated its full-year guidance to sales of $13.7 billion-$14.0 billion, earnings of $1.17...
Arconic is engaged in lightweight metals engineering and manufacturing. The company's segments include: Engineered Products and Solutions, which produces products that are used mainly in the aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets; Global Rolled Products, which produces aluminum sheet and plate for a variety of end markets, and also produces aseptic foil for the packaging end market; and Transportation and Construction Solutions, which produces products that are used in the commercial transportation and nonresidential building and construction end markets, and also produces aluminum products for the industrial products end market.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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