Allegheny Technologies Surpasses Q4 Earnings Expectations
Allegheny Technologies Inc. (ATI) announced fourth-quarter earnings of $137.1 million, surpassing Wall Street forecasts. On a per-share basis, ATI reported net income of 94 cents, while adjusted earnings reached 79 cents per share.
Analysts' consensus estimate, according to Zacks Investment Research, was 60 cents per share.
Revenue for the quarter totaled $1.17 billion. For the full year, ATI reported a profit of $367.8 million, or $2.55 per share, on revenue of $4.36 billion.
For the current quarter ending in March, ATI anticipates per-share earnings between 55 cents and 61 cents. Full-year earnings are projected to range from $2.80 to $3 per share.
Allegheny Technologies stock has performed well in recent months, rising over 5% since the beginning of the year and 50% over the past 12 months.