DALLAS (AP) — DALLAS (AP) — Allegheny Technologies Inc. (ATI) on Tuesday reported fourth-quarter earnings of $137.1 million.
On a per-share basis, the Dallas-based company said it had net income of 94 cents. Earnings, adjusted for non-recurring gains, were 79 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The maker of steel and specialty metals posted revenue of $1.17 billion in the period.
For the year, the company reported profit of $367.8 million, or $2.55 per share. Revenue was reported as $4.36 billion.
For the current quarter ending in March, Allegheny Technologies expects its per-share earnings to range from 55 cents to 61 cents.
The company expects full-year earnings in the range of $2.80 to $3 per share.
Allegheny Technologies shares have increased slightly more than 5% since the beginning of the year, while the S&P's 500 index has increased 26%. The stock has climbed 50% 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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.