Pittsburgh-based aluminum producer Arconic expects its revenue this year to be in the range of $6.6-6.9bn and its adjusted EBITDA to be between $675mn and $725mn.
In 2020, the company’s sales dropped by 22pc to $5.6bn compared to $7.2bn in 2019. In the fourth quarter of 2020, the firm’s sales declined by 14pc to $1.46bn compared to $1.7bn in the same quarter in 2019.
The aluminum manufacturer’s revenue declined by 22pc to $5.7bn last year compared to 2019 mainly due to Boeing 737 Max production delays related to COVID-19 pandemic. Arconic’s revenue in Q4 2020 fell by 14pc to $1.5bn compared to Q4 2019.
The firm’s adjusted EBITDA dropped to $619mn in 2020 compared to $714 in the prior year. The company’s adjusted EBITDA in Q4 2020 fell to $151mn compared to an adjusted EBITDA of $159mn during the same quarter in 2019.