Quarterly teleconferences from public companies are usually predictably scripted. CEOs and CFOs report highly telegraphed financial results from the last three months or full year—so much so that financial analysts often beg for more “color” from executives. Not so with Arconic, an important provider of highly engineered metals and materials to the aerospace, defense and automotive industries. The New York company’s Feb. 8 teleconference may be one of the blunter yet ...

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