Arconic reported revenue for its Engineered Products and Solutions (EP&S) segment – primarily aerospace fasteners – increased 4% to $1.5 billion in the first quarter of 2018.

“Organic revenue was up 2% as volume growth in aerospace engines, defense and industrial more than offset the continued downturn in the industrial gas turbine market and headwinds in aerospace airframe production mix, related to fastening systems,” the company stated.

Segment operating profit fell 10.5% to $221 million, as “performance shortfalls in Rings and Disks, unfavorable product mix, and higher input costs more than offset the strength in aerospace engines.” Segment operating margin was 14.3%, down 230 basis points.

Consolidated Q1 revenue for Arconic, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, rose 8% to $3.4 billion, “driven by higher volumes in the aerospace engines, automotive, commercial transportation, building and construction, industrial and defense markets.”

Q1 operating income jumped 18% to $333 million. Web: Arconic.com