Allegheny Technologies: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Thursday reported a third-quarter loss of $50.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Pittsburgh-based company said it had a loss of 40 cents. Losses, adjusted for restructuring costs, were 38 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.

The maker of steel and specialty metals posted revenue of $598 million in the period.

Allegheny Technologies shares have declined 60% since the beginning of the year, while the Standard & Poor's 500 index has risen 1%. The stock has fallen 59% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATI at https://www.zacks.com/ap/ATI