Arconic Corporation’s Upcoming Q3 Earnings Preview
<p>Deutsche Bank analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/ARNC'>Arconic Corporation (NYSE:ARNC)</a> ahead of the upcoming Q3 earnings announcement, lowering its price target to $23 from $29 while maintaining its buy rating.</p>
<p>The analyst's Q3 estimate of $139 million is 10% below the Street estimates on soft volumes and increased costs. The company released a pre Q3 guidance a few weeks ago, cutting numbers by approximately $100 million for full-year EBITDA, down to $715-765 million, and Q3 EBITDA between $135-150 million (vs. Deutsche Bank’s $135 million). </p>
<p>About half of the guidance cut was related to company specifics and operation setbacks at the US facilities (TN and Davenport), around $30 million direct impact from softer demand in Europe on Industrial Products and the remaining $15-20 million on energy costs in Europe.</p>

NYSE:ARNC