Allegheny Technologies: Q4 Earnings Snapshot

Associated Press
Updated ·1 min read

PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Thursday reported fourth-quarter net income of $76.9 million, after reporting a loss in the same period a year earlier.

The Pittsburgh-based company said it had net income of 53 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 53 cents per share.

The maker of steel and specialty metals posted revenue of $1.01 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $1 billion.

For the year, the company reported net income of $130.9 million, or 96 cents per share, swinging to a profit in the period. Revenue was reported as $3.84 billion.

Allegheny Technologies shares have risen 23% since the beginning of the year, while the S&P's 500 index has risen slightly more than 7%. The stock has increased 95% 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