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Allegheny Technologies Sharply Boosts 4Q EPS View

DOW JONES NEWSWIRES Allegheny Technologies Inc. (ATI) boosted its fourth-quarter profit estimate sharply amid improving volume and pricing as well as benefits from earlier cost cutting and lower raw materials expenses. The metals processor's shares were up 5.1% at $40.01 in recent premarket trading. The stock was up 49% this year through Wednesday's close. The company now expects earnings of 20 cents to 25 cents a share, compared with its October view for in line with the third quarter's 1-cent profit. President and Chairman L. Patrick Hassey said Thursday that with the fourth-quarter projection, "ATI will be profitable in 2009." In addition to improving sales, the company also has been improving its position with key customers and expanding its product, market and geographic diversification. The company's markets range from aerospace and defense to chemical processing to food equipment. ATI plans to release its fourth-quarter results Jan. 27. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for Allegheny (ATI)
DateTimeHeadline
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07/27/201108:42:04Allegheny Tech 2Q Net Up 76% On Ladish Deal, Flat-Rolled Segment
04/27/201108:36:24Allegheny Tech 1Q Profit More Than Triples On Sharp Revenue Jump
01/26/201108:43:22Allegheny Tech 4Q Profit Falls 60%, Hurt By Pricing
11/17/201009:30:35Allegheny Tech Agrees To Acquire Ladish For $778 Million
10/26/201008:30:16Allegheny Tech 3Q Profit Down 29% On Increased Costs
07/29/201009:32:03Allegheny Tech Promotes CFO To President, Operating Chief
07/28/201008:24:37Allegheny Tech Swings To 2Q Profit After 2009 Charges
06/04/201013:00:31List Of Companies Posting Charges Related To Health-Care Law
04/29/201014:28:13CORRECT: List Of Companies Posting Charges Related To Health-Care...
03/29/201017:16:49Allegheny Tech To Take $5 Million Charge Due To New Health-Care...
01/27/201008:41:10Allegheny Technologies 4Q Profit Falls 66% On Sales Decline
12/17/200909:22:06Allegheny Technologies Sharply Boosts 4Q EPS View
10/21/200908:39:11Allegheny Tech Ekes Out Profit, Gives Weak 4Q View

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