We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Allegheny (ATI) Q3 Loss Wider than Expected, Sales Miss
Read MoreHide Full Article
Allegheny Technologies Inc. (ATI - Free Report) is a diversified specialty materials producer operating through two segments, High Performance Materials and Components, and Flat-Rolled Products.
Allegheny should benefit from its diversified global growth markets and cost reduction measures. The company is also seeing healthy demand from aerospace OEMs. However, Allegheny is exposed to certain challenges (including pricing pressure) in its Flat Rolled Products segment. Lower oil prices are also expected to hurt demand for its products in the oil and gas market.
Let’s have a quick look at this Pennsylvania-based company’s third-quarter release.
Estimate Trend & Surprise History
Investors should note that the Zacks Consensus Estimate for Allegheny for the third quarter has saw a downtrend over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missing in one.
Allegheny’s adjusted loss was 21 cents per share for the quarter, wider than the Zacks Consensus Estimate of a loss of 11 cents.
Revenues
Allegheny reported revenues of $770.5 million, widely missing the Zacks Consensus Estimate of $839 million.
Key Stats/Developments to Note
Management remains focused on returning the company to sustainable profitable growth with an emphasis on strong balance sheet and cash flow generation. The company has been concentrating on restructuring initiatives for the same. For full year 2016, the company projects capital expenditure of $215 million.
Zacks Rank
Currently, Allegheny has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Allegheny’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Allegheny’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Allegheny (ATI) Q3 Loss Wider than Expected, Sales Miss
Allegheny Technologies Inc. (ATI - Free Report) is a diversified specialty materials producer operating through two segments, High Performance Materials and Components, and Flat-Rolled Products.
Allegheny should benefit from its diversified global growth markets and cost reduction measures. The company is also seeing healthy demand from aerospace OEMs. However, Allegheny is exposed to certain challenges (including pricing pressure) in its Flat Rolled Products segment. Lower oil prices are also expected to hurt demand for its products in the oil and gas market.
Let’s have a quick look at this Pennsylvania-based company’s third-quarter release.
Estimate Trend & Surprise History
Investors should note that the Zacks Consensus Estimate for Allegheny for the third quarter has saw a downtrend over the past month. The company has beaten the Zacks Consensus Estimate in three of the trailing four quarters while missing in one.
ALLEGHENY TECH Price and EPS Surprise
ALLEGHENY TECH Price and EPS Surprise | ALLEGHENY TECH Quote
Earnings
Allegheny’s adjusted loss was 21 cents per share for the quarter, wider than the Zacks Consensus Estimate of a loss of 11 cents.
Revenues
Allegheny reported revenues of $770.5 million, widely missing the Zacks Consensus Estimate of $839 million.
Key Stats/Developments to Note
Management remains focused on returning the company to sustainable profitable growth with an emphasis on strong balance sheet and cash flow generation. The company has been concentrating on restructuring initiatives for the same. For full year 2016, the company projects capital expenditure of $215 million.
Zacks Rank
Currently, Allegheny has a Zacks Rank #3 (Hold), but that could change following the company’s earnings report which was just released.
Market Reaction
Allegheny’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on Allegheny’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>