Arconic reported revenue for its Engineered Products and Solutions (EP&S) segment – primarily aerospace fasteners – increased 7% to $1.6 billion. Organic revenue was up 6%, “driven by volume growth in aerospace engines and defense.”

Segment operating profit dropped 15% to $212 million as “a negative physical inventory adjustment of $23 million in one facility, unfavorable product mix, and continued challenges in Rings and Disks more than offset volume growth across all business units.” Segment operating margin was 13.3%, down 350 basis points year over year.

EP&S revenue during the first six months of 2018 gained 5.6% to $3.14 billion, while operating profit down 13% to $433 million.

Consolidated Q2 revenue for Arconic, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, rose 10% to $3.6 billion, while net income declined to $120 million. Web: Arconic.com