Arconic reports $304M after-tax loss on sale of Russian operations

As previously announced, Arconic Corporation completed the sale of 100% of its Russian operations on November 15, 2022. As a result of the divestiture, and consistent with the sale announcement, the company recorded a $304M after-tax loss on the sale in the fourth quarter of 2022. In addition, the company’s previous 2022 Adjusted EBITDA outlook, which included a full year of operating activity for the divested business, will be reduced by an estimated $9M.