Arconic reports 2Q financials
WEATHERSFIELD — Arconic, which has a plant in the township, reported on Tuesday revenue of $3.7 billion, up 3 percent over last year.
The company reported a net loss of $121 million, or 27 cents per share, mainly driven by non-cash asset impairments of $357 million compared to a net income of $120 million, or 24 cents per share, in the second quarter of 2018.
Net income, excluding special items, was $269 million, or 58 cents per share, compared to $185 million, or 37 cents per share, the same period last year.
There was an operating loss of $81 million, compared to operating income of $324 million in 2018’s second quarter.