HUTCHINSON, Kan. — Arconic continued to make a nice rebound from a tough 2020 as it released its 1Q report Tuesday.
The aluminum components company reported total sales of $1.7 billion, an increase of 4% from the previous year and 15% from the previous quarter. It also saw net income increase by $0.04 per share at $52 million.
The company which makes components for the aerospace industry at the Hutchinson facility saw sales in that sector decrease again, mostly due to the grounding of the Boeing 737 Max. However ground transportation and building segments continued to see growth.
The future for Arconic looks solid as the company now expects full-year 2021 revenue to between Arconic 1Q 2021$7.1 billion to $7.4 billion compared with the prior outlook of $6.6 billion to $6.9 billion.
The company also announced that it is working to ease some of the pressure from its pension obligations which is a continued issue for the company.
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