Allegheny Technologies: Q1 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Allegheny Technologies Inc. (ATI) on Thursday reported first-quarter earnings of $70.1 million.
The Dallas-based company said it had profit of 48 cents per share. Earnings, adjusted for restructuring costs, came to 49 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The maker of steel and specialty metals posted revenue of $1.04 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $998.9 million.
Allegheny Technologies shares have increased 27% since the beginning of the year, while the S&P's 500 index has increased 6.5%. The stock has climbed 36% in the last 12 months.
_____
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
