Allegheny Technologies: 2Q Earnings Snapshot
PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Tuesday reported second-quarter net income of $72.8 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 52 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The maker of steel and specialty metals posted revenue of $1.01 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.02 billion.
Allegheny Technologies shares have climbed 11 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. The stock has risen 55 percent in the last 12 months.