October 30, 2018 / 12:00 PM / 18 days ago

Aluminum products maker Arconic's profit beats on strong aero parts demand

Oct 30 (Reuters) - U.S. specialty metals maker Arconic Inc reported a better-than-expected third-quarter profit on Tuesday, helped by higher demand for aluminum parts used in aircraft.

Arconic, which counts planemakers Boeing and Airbus among its key customers, raised its 2018 adjusted earnings per share forecast to a range of $1.28 to $1.34, from between $1.17 and $1.27, previously.

Net income rose to $161 million, or 32 cents per share, in the quarter ended Sept. 30, from $119 million, or 22 cents per share, a year earlier.

Analysts, on average, had expected quarterly profit of 30 cents, according to Refinitiv estimates.

Sales rose about 9 percent to $3.52 billion, and were above the consensus of $3.49 billion.

The company said it expects to complete its strategic review in the fourth quarter of 2018.

Reuters reported earlier this month that Arconic's board was mulling an $11 billion acquisition offer it received from buyout firm Apollo Global Management LLC. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber)

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