공시 • Aug 19
Arconic Corporation Announces Board Changes In connection with the Merger, each of William F. Austen, Christopher L. Ayers, Margaret S. Billson, Jacques Croisetiere, Elmer L. Doty, Carol S. Eicher, Frederick A. Henderson, Ellis A. Jones, Timothy D. Myers, E. Stanley O’Neal and Jeffrey Stafeil resigned from the board of directors of Arconic Corporation and the committees thereof, effective as of August 18, 2023. No director resigned as a result of any disagreement with the company on any matter relating to Arconic’s operations, policies or practices. In connection with the consummation of the Merger, Marcelo Morgueta was appointed to the board of directors of Arconic, effective as August 18, 2023. 공시 • May 06
Arconic's Stock to Be Delisted from the New York Stock Exchange Arconic Corporation is being taken private by Apollo Global Management (APO) in an all-cash buyout deal valued at $5.2 billion, the companies announced on May 4, 2023. Arconic shareholders will receive $30 per share in cash, representing a premium of around 36% from the stock's closing price on Feb. 27, before media reported about a potential deal. The transaction includes a minority investment from funds managed by affiliates of Irenic Capital Management. The transaction is expected to close in the second half, following approvals by regulators and Arconic shareholders. At that time, Arconic's stock will be delisted from the New York Stock exchange. "The board decided to approve this transaction after thorough and thoughtful review of a range of value creation opportunities for shareholders," Arconic Chairman Fritz Henderson said. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: US$0.25 (vs US$0.40 in 1Q 2022) First quarter 2023 results: EPS: US$0.25 (down from US$0.40 in 1Q 2022). Revenue: US$1.93b (down 12% from 1Q 2022). Net income: US$25.0m (down 41% from 1Q 2022). Profit margin: 1.3% (down from 1.9% in 1Q 2022). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. 공시 • May 05
Apollo Reportedly Nears Deal to Buy Arconic The Journal, which first reported Apollo Global Management, Inc. (NYSE:APO), was in talks to buy Arconic Corporation (NYSE:ARNC) in February, reported the deal would value Arconic ARNC, at $30 a share, or about $3 billion, and could be announced by the time Arconic reports quarterly earnings before the market opens May 5, 2023. Pittsburgh-based Arconic, which was spun off from Alcoa Inc. AA, in 2016, had a market value of about $2.38 billion as of Wednesday, according to Dow Jones Market Data, but has a debt load of more than $1.5 billion, according to the Journal. Arconic shares are up 6.6% year to date, but are down 19% over the past year, compared to the S&P 500's SPX, 6.5% rise in 2023 and nearly 5% decline over the past 12 months. Board Change • May 04
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Independent Director Ellis Jones was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 22
Full year 2022 earnings released: US$1.76 loss per share (vs US$3.64 loss in FY 2021) Full year 2022 results: US$1.76 loss per share (improved from US$3.64 loss in FY 2021). Revenue: US$8.96b (up 19% from FY 2021). Net loss: US$182.0m (loss narrowed 54% from FY 2021). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Metals and Mining industry in Europe. 공시 • Feb 08
Arconic Corporation to Report Q4, 2022 Results on Feb 21, 2023 Arconic Corporation announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 21, 2023 Board Change • Dec 05
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. No experienced directors. No highly experienced directors. Independent Director Jacques Croisetiere is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Nov 24
Independent Director recently bought €194k worth of stock On the 21st of November, William Austen bought around 10k shares on-market at roughly €19.36 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €687k more in shares than they bought in the last 12 months. Board Change • Nov 16
High number of new and inexperienced directors There are 11 new directors who have joined the board in the last 3 years. The company's board is composed of: 11 new directors. No experienced directors. No highly experienced directors. Independent Director Jacques Croisetiere is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Aug 12
Insider recently sold €861k worth of stock On the 8th of August, Melissa Miller sold around 31k shares on-market at roughly €27.67 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €770k more than they bought in the last 12 months. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$1.08 (vs US$3.88 loss in 2Q 2021) Second quarter 2022 results: EPS: US$1.08 (up from US$3.88 loss in 2Q 2021). Revenue: US$2.55b (up 42% from 2Q 2021). Net income: US$114.0m (up US$541.0m from 2Q 2021). Profit margin: 4.5% (up from net loss in 2Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 26% growth forecast for the industry in Germany. Board Change • Jul 20
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Independent Director Jacques Croisetiere is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.