ADVFN - Advanced Financial Network.
HOME» NYSE » A » ATI Stock Price » ATI Stock News

Allegheny Share News

 Allegheny Technologies, Stock Price
ATI Stock Price
 Allegheny Technologies, Stock Chart
ATI Stock Chart
 Allegheny Technologies, Stock News
ATI Stock News
 Allegheny Technologies, Company Information
ATI Company Information
 Allegheny Technologies, Stock Trades
ATI Stock Trades

Allegheny Tech 3Q Profit Down 29% On Increased Costs

DOW JONES NEWSWIRES Allegheny Technologies Inc.'s (ATI) third-quarter profit fell 29% on inventory charges related to increased nickel prices while revenue topped analysts' expectations. The metal processor, which makes products for aerospace and petrochemical industries, has seen results improve the past two quarters. But it said two weeks ago it expected to report third-quarter earnings below expectations due to steel-price increases and slowed volume growth as some clients started to destock. Chairman and Chief Executive L. Patrick Hassey said Tuesday the company is also "cautiously optimistic that demand for our standard sheet and plate products will continue to recover." Allegheny reported a third-quarter profit of $1 million, down from $1.4 million, a year earlier, with results flat on a per-share basis at 1 cent. The latest period included a 21-cent inventory charge related to increased nickel prices and 4 cents of tax charges. The company in October predicted earnings of 5 cents, well below analysts' then-estimate. Revenue surged 52% to $1.06 billion. Analysts had most recently estimated $984 million. Gross margin narrowed to 8.5% from 13.5% amid the higher costs. Revenue in Allegheny's flat-rolled products segment, its biggest by revenue and which makes stainless-steel sheets, surged 70% on 29% volume growth while the segment swung to a loss due to the nickel price increases. Revenue from the high-performance metal segment, which makes titanium- and nickel-based alloys, increased 23% and profit jumped 40%. Shares closed at $47.82 Monday and didn't trade premarket. The stock has risen 48% the past year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037;

Stock News for Allegheny (ATI)
04/22/201512:00:00ACTIA Group : Mise à disposition du Document de Référence 20...
04/22/201512:00:00Actia Group : Information relative au nombre total de droits...
04/22/201512:00:00Actia Group : Mise à disposition des documents relatifs à l'Assemblée Gé...
04/21/201513:29:11Why Shares of Allegheny Technologies Incorporated Popped Today
04/21/201511:17:18Additional Proxy Soliciting Materials (definitive) (defa14a)
04/21/201507:22:52Current Report Filing (8-k)
04/21/201507:15:00ATI Announces First Quarter 2015 Results
04/14/201516:27:22Additional Proxy Soliciting Materials (definitive) (defa14a)
04/14/201510:45:02Additional Proxy Soliciting Materials (definitive) (defa14a)
04/14/201501:00:00CORRIGE ET REMPLACE : ACTIA GROUP : Information relative au nombre...
04/09/201505:38:57Imported Transformer Parts Coming In Strong While GOES Prices...
04/08/201501:00:00ACTIA GROUP : Information relative au nombre total de droits...
04/07/201510:15:00Allegheny Technologies Announces Webcast of Conference Call for...
03/27/201502:00:00ACTIA Group renouvelle son éligibilité au PEA-PME
03/25/201502:00:00ACTIA Group : Forte hausse des résultats annuels 2014
03/20/201509:18:32Proxy Statement (definitive) (def 14a)
03/09/201517:21:15Initial Statement of Beneficial Ownership (3)
03/04/201516:13:02Statement of Changes in Beneficial Ownership (4)
03/03/201516:15:26Current Report Filing (8-k)
02/27/201518:37:35Statement of Changes in Beneficial Ownership (4)

Allegheny Technologies and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations