Arconic Inc. ARNC logged profits (as reported) of $161 million or 32 cents per share in the third quarter of 2018, up from $119 million or 22 cents in the year-ago quarter. Earnings per share beat the Zacks Consensus Estimate of 30 cents.Arconic reported revenues of $3,524 million, up around 8.9% year over year, exceeding the Zacks Consensus Estimate of $3,484.3 million. Organic revenues rose 7% year over year, driven by higher volumes across the board on the back of growth in automotive, aerospace engines, defense and industrial, commercial transportation as well as building & construction markets.Arconic Inc. Price, Consensus and EPS Surprise Arconic Inc. Price, Consensus and EPS Surprise | Arconic Inc. Quote Segment HighlightsEngineered Products and Solutions: Revenues from the division came in at $1.6 billion for the reported quarter, up 6% year over year. Organic revenues in the segment rose 6%, supported by growth in aerospace engines and defense.Global Rolled Products: Revenues in the division amounted to $1.4 billion in the quarter, up 16% year over year. Organic revenues in the segment rose 9%, driven by higher industrial and automotive volume.Transportation and Construction Solutions: Revenues in the segment amounted to $530 million, up 1% year over year. Organic revenues in the segment rose 8%, supported by higher volume in commercial transportation and building and construction.Financial PositionAs of Sep 30, 2018, Arconic had cash and cash equivalents of roughly $1,535 million, down around 15.4% year over year. Long-term debt fell roughly 7.2% year over year to $6,315 million.Adjusted free cash flow nearly tripled year over year to $115 million in the quarter.OutlookArconic provided an updated guidance for 2018. It now expects adjusted earnings in the range of $1.28-$1.34 per share, up from the prior expectation of $1.17-$1.27 per share. However, it continues to expect revenues for 2018 in the range of $13.7-$14 billion and adjusted free cash flow of roughly $250 million.Price PerformanceArconic's shares lost 8.5% in the past three months compared with the industry’s 23.7% decline. Zacks Rank & Stocks to ConsiderArconic currently carries a Zacks Rank #3 (Hold).A few better-ranked stocks in the basic materials space are Methanex Corporation MEOH, KMG Chemicals, Inc. KMG and CF Industries Holdings, Inc. CF, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Methanex has expected long-term earnings growth rate of 15%. Its shares have rallied 35.2% in the past year.KMG Chemicals has expected long-term earnings growth rate of 28.5%. Its shares have rallied 35.6% in the past year.CF Industries has expected long-term earnings growth rate of 6%. Its shares have gained 16.9% in a year.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Methanex Corporation (MEOH): Free Stock Analysis Report KMG Chemicals, Inc. (KMG): Free Stock Analysis Report CF Industries Holdings, Inc. (CF): Free Stock Analysis Report Arconic Inc. (ARNC): Free Stock Analysis Report To read this article on Zacks.com click here.