Allegheny Technologies: 4Q Earnings Snapshot
PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Tuesday reported fourth-quarter profit of $41.1 million.
On a per-share basis, the Pittsburgh-based company said it had net income of 30 cents.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The maker of steel and specialty metals posted revenue of $1.04 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $981.4 million.
For the year, the company reported net income of $222.4 million, or $1.61 per share, swinging to a profit in the period. Revenue was reported as $4.05 billion.
Allegheny Technologies shares have risen 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6.5 percent. The stock has dropped almost 10 percent in the last 12 months.