Arconic reported third-quarter Engineered Products and Forgings (EP&F) revenue, including fasteners, increased 7% to $1.8 billion, which included 8% organic sales growth “driven by aerospace engine, defense and commercial transportation growth.”

Operating profit in the EP&F segment, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, rose 28% to $363 million, driven by “volume increases, favorable pricing, lower raw material costs and net cost reduction” Segment operating margin climbed 330 basis points to 20.2%.

Consolidated Arconic revenue rose 1% to $3.6 billion in Q3, including a 6% increase in organic revenue. Operating income declined 5.5% to $326 million, while net income fell 41% to $95 million.

During the first nine months of 2019, EP&F revenue grew 6.6% to $1.79 billion, while operating profit improved 28% to $363 million. Nine-month capital expenditures dropped 46% to $62 million.

During Q3 Arconic realigned its operations into two segments: the Engineered Products and Forgings (EP&F) segment and Global Rolled Products (GRP) segment. The EP&F businesses will remain in the existing company, which will be renamed Howmet Aerospace Inc. at separation, and the GRP businesses will comprise Spin Co. and will be named Arconic Corporation at separation. Web: Arconic.com