Arconic reported revenue for its Engineered Products and Solutions (EP&S) segment – primarily aerospace fasteners – rose 2% to $1.5 billion. Adjusted EBITDA edged up 0.3% to $306 million, while adjusted EBITDA margin was 20.6%, down 40 basis points.

“Adjusted EBITDA was driven by volume and net cost savings excluding engine ramp-up costs, which offset unfavorable mix, price and ramp-up costs,” the company stated. “The ramp up costs are associated with increasing production volumes of new engine parts and are the result of, for example, higher scrap rates, lower efficiencies, new process development and employee training.

Overall revenue for Arconic, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, increased 4.5% to 3.2 billion, with net income jumping to $322 million. Adjusted EBITDA margin totaled 15.2%, up 90 basis points. Web: arconic