Arconic releases 2021 10-k
Arconic has released it’s 2021 10-k report. The company reported a 32% increase in profits over 2020 to $7.5 billion. The company attributes this increase to the rising price of aluminum, as well as increased volume of business conducted. Arconic managed to navigate diminished automotive and aerospace sales in 2021, and anticipates increased sales in these sectors for 2022. Additionally, Arconic is restructuring their retirement program in an effort to retain more revenue, freeing up an anticipated $250 million in free cash flow in 2022.
New Activity|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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