By ROD ZOOK
Hutch Post
HUTCHINSON, Kan. — Forced to build up its pension program, Arconic showed a net loss of $427 million in the second quarter, However, that was the only downside to what was a positive earnings release.
The aluminum components maker showed earnings before the pension pay in of $187 million. Sales totaled $1.8 billion which is an increase of 52% from 2020 when the pandemic and a shutdown of the Boeing 737 Max production lines left the company at a near standstill.
Transportation was still soft for the company the past three months, but higher aluminum prices and growth in the industrial and packaging end markets helped boost the company’s bottom line.
The Company is updating its full-year 2021 outlook in light of the effects of increased metal prices on revenue and working capital. Arconic now expects full-year 2021 revenue to be in a range of $7.3 billion to $7.6 billion, compared with the prior outlook of $7.1 billion to $7.4 billion.
Arconic Hutchinson does finishing work that supports aerospace companies in the area.
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