Arconic Corp. ARNC, +2.57% said Tuesday its first-quarter profit fell to $42 million, or 39 cents a share, from $52 million, or 46 cents a share, in the year-ago period. Revenue rose 31% to $2.19 billion from $1.68 billion in the year-ago quarter. Wall Street analysts expected the Pittsburgh company to earn 44 cents a share on revenue of $2.25 billion, according to FactSet. Arconic raised its 2022 revenue target to $10.1 billion to $10.5 billion, from its earlier projection of $9.9 billion to $10.3 billion. Analysts are looking for 2022 revenue of $9.66 billion. The company said it's "actively pursuing additional deliberate and responsible options" for its Russia business. Arconic shares are down about 23% so far in 2022, compared to a drop of about 13% by the S&P 500 SPX, +0.50%.