Allegheny Technologies: Q2 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Allegheny Technologies Inc. (ATI) on Wednesday reported second-quarter net income of $76 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had profit of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The maker of steel and specialty metals posted revenue of $1.05 billion in the period, which matched Street forecasts.
Allegheny Technologies shares have risen 57% since the beginning of the year, while the S&P's 500 index has climbed 19%. The stock has increased 87% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATI at https://www.zacks.com/ap/ATI
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