Arconic interim CEO Hess undecided whether to keep the job permanently

|About: Arconic Inc (ARNC)|By:, SA News Editor

Arconic (NYSE:ARNC) +2.7% premarket after posting better than expected Q1 earnings and revenues, which rose 8% Y/Y when excluding the impact of the Tennessee packaging ramp down.

ARNC turned in solid growth in sales and profit growth in its rolled products and transportation business units, offsetting tepid results from its engineered products business, where pretax income was flat and the margin was down slightly at 20.6%; aerospace sales were up, but offset by higher costs for starting production on certain new engine parts.

In last night's earnings conference call, interim CEO David Hess said he had not decided whether he wants to keep the job permanently, after taking the job just last week following Klaus Kleinfeld's ouster; Hess gave no indication of when the board might make a decision.