Allegheny Technologies (ATI) Tops Q3 EPS by 7c

Allegheny Technologies (NYSE: ATI) reported Q3 EPS of $0.05, $0.07 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $726 million versus the consensus estimate of $662.04 million.

Outlook:

"Looking ahead to the fourth quarter, we anticipate sequential revenue and earnings growth primarily driven by the ongoing commercial aerospace recovery in our HPMC segment. Significant managed working capital reductions will fuel fourth quarter cash generation," said Wetherbee. "As our business transformation actions near completion in the AA&S segment, we'll temporarily curtail some early stage manufacturing activities to better align our inventory levels with market demand and have planned extended equipment outages to complete transformational upgrades. These actions will likely result in unfavorable cost absorption impacts in the quarter."

For earnings history and earnings-related data on Allegheny Technologies (ATI) click here.

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