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Arconic lowers 2022 full-year guidance

4 Aug 2022 15:46 reported by Joy Liu

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Arconic CEO Timothy Myers said on Tuesday that the company had adjusted its full-year guidance to reflect the decreasing aluminum prices and the impact on its revenue and operation capital.

The revenue was expected to be between US$9.6 billion to US$10 billion, compared to the previous guidance of US$10.1 billion to US$10.5 billion. The decrease was due to lower aluminum prices, higher costs, and logistics concerns.

Besides, the full-year adjusted EBITDA was expected to be at the lower end of its previously guided range of US$820 million to US$870 million.