Alcoa reported its Engineered Products and Solutions segment, including results from Alcoa Fastening Systems, achieved its 19th consecutive quarter of year-over-year after-tax operating income growth.
Engineered Products and Solutions segment ATOI in the fourth quarter was $165 million, down $3 million, or 2%, year-over-year, including a Firth Rixson integration impact of $12 million. Excluding the impact, ATOI was a fourth quarter record and the 19th consecutive quarter of year-over-year ATOI growth; continued productivity gains and higher volumes drove the improvement, mostly offset by cost increases and unfavorable mix. This segment reported a fourth quarter adjusted EBITDA margin of 18.9% compared to 20.3% for the same quarter last year; excluding Firth Rixson, adjusted EBITDA margin performance of 20.6 percent was a fourth quarter record.(…)
