Duyuru • Sep 06
Arconic Corporation Names Marcelo Morgueta Chief Financial Officer Arconic Corporation announced that its Vice President of Finance and Treasurer, Marcelo Morgueta, has accepted the position of Executive Vice President and Chief Financial Officer of Arconic. Morgueta has extensive expertise in corporate finance, financial planning, operations finance, and almost two decades of experience in the aluminum industry. He joined the company in 2005, and advanced through roles of progressive responsibility across business segments, both in Brazil and the United States. Most recently, Morgueta was Vice President, Finance and Treasurer at Arconic, and prior to the company separation in 2020, he served as Chief Financial Officer of two large business segments, Global Rolled Products and Transportation and Construction Solutions. Prior to these roles, he was an auditor at Deloitte and BDO. Morgueta holds a Bachelor of Science degree in Business Administration and an MBA in Finance, Audit and Controllership from UNESP (Universidade Estadual Paulista), and Fundação Getúlio Vargas, respectively, both prestigious universities in Brazil. He is based at the Company’s corporate headquarters in Pittsburgh, Pennsylvania. Duyuru • Aug 21
Arconic Corporation(NYSE:ARNC) dropped from S&P Global BMI Index Arconic Corporation(NYSE:ARNC) dropped from S&P Global BMI Index Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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 • Jan 30
High number of new directors Director Ellis Jones was the last director to join the board, commencing their role in 2022. Board Change • Dec 09
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 31
Insider recently sold Mex$2.2m worth of stock On the 25th of August, Diana Perreiah sold around 4k shares on-market at roughly Mex$546 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$18m. Insiders have been net sellers, collectively disposing of Mex$18m more than they bought in the last 12 months. Board Change • Aug 29
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. Board Change • May 30
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. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.40 (vs US$0.47 in 1Q 2021) First quarter 2022 results: EPS: US$0.40 (down from US$0.47 in 1Q 2021). Revenue: US$2.19b (up 31% from 1Q 2021). Net income: US$42.0m (down 19% from 1Q 2021). Profit margin: 1.9% (down from 3.1% in 1Q 2021). Over the next year, revenue is forecast to grow 24%, compared to a 3.0% growth forecast for the industry in Mexico. Board Change • May 06
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. Recent Insider Transactions • Mar 11
Insider recently bought Mex$2.1m worth of stock On the 7th of March, Melissa Miller bought around 4k shares on-market at roughly Mex$552 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought Mex$2.8m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: US$3.64 loss per share (down from US$1.00 loss in FY 2020). Revenue: US$7.50b (up 32% from FY 2020). Net loss: US$397.0m (loss widened 264% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 27%, compared to a 3.6% growth forecast for the mining industry in Mexico. Board Change • Feb 24
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. Board Change • Jan 06
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. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS US$0.14 (vs US$0.046 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.89b (up 34% from 3Q 2020). Net income: US$16.0m (up 220% from 3Q 2020). Profit margin: 0.8% (up from 0.4% in 3Q 2020). Board Change • Oct 29
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. Board Change • Sep 18
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. Recent Insider Transactions • Jun 02
Executive VP & Chief Commercial Officer recently sold Mex$11m worth of stock On the 28th of May, Mark Vrablec sold around 16k shares on-market at roughly Mex$705 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$1.8m more than they bought in the last 12 months. Reported Earnings • May 05
First quarter 2021 earnings released: EPS US$0.47 (vs US$0.55 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$1.68b (up 4.0% from 1Q 2020). Net income: US$52.0m (down 13% from 1Q 2020). Profit margin: 3.1% (down from 3.7% in 1Q 2020). Recent Insider Transactions • Mar 03
Executive VP & CFO recently bought Mex$2.3m worth of stock On the 26th of February, Erick Asmussen bought around 5k shares on-market at roughly Mex$466 per share. This was the largest purchase by an insider in the last 3 months. Erick has been a buyer over the last 12 months, purchasing a net total of Mex$7.0m worth in shares. Reported Earnings • Feb 25
Full year 2020 earnings released: US$1.00 loss per share (vs US$1.62 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$5.68b (down 22% from FY 2019). Net loss: US$109.0m (down 162% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 0.09%. Over the next year, revenue is forecast to grow 16%, compared to a 32% growth forecast for the Metals and Mining industry in Mexico. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS US$0.046 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$1.42b (down 22% from 3Q 2019). Net income: US$5.00m (up US$29.0m from 3Q 2019). Profit margin: 0.4% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.046 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$1.42b (down 22% from 3Q 2019). Net income: US$5.00m (up US$29.0m from 3Q 2019). Profit margin: 0.4% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses.