Improved results from the STAL joint venture and higher surcharges on raw materials boost Allegheny's (ATI) AA&S unit margins in Q1.
Shares of commercial aerospace suppliers had a rare up day on Wednesday, with the sector soaring after Boeing said it intends to keep airplane production at rates higher than what the markets had feared. Allegheny Technologies is a material sciences company focused on jet engine forgings, 3D-printed aerospace components, and other titanium and related products. The company is a valuable part of the commercial aerospace supply chain, but the prospects for that entire sector have been driven down by the COVID-19 pandemic.
ATI and United Steelworkers Extend Labor Agreement to 2021
Allegheny Technologies Announces Webcast of Conference Call for First Quarter 2020 Results
Allegheny Technologies (ATI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shares of Allegheny Technologies (NYSE:ATI) rose 2.8% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share rose 66.67% year over year to $0.20, which beat the estimate of $0.11.Revenue of $955,500,000 lower by 4.93% year over year, which beat the estimate of $936,720,000.Outlook Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: May 05, 2020View more earnings on ATITime: 06:04 PM ETWebcast URL: https://dpregister.com/DiamondPassRegistration/register?linkSecurityString=78449&confirmationNumber=10138107Technicals 52-week high: $25.68Company's 52-week low was at $4.95Price action over last quarter: down 61.60%Company Overview Allegheny Technologies supplies specialty metals to a variety of end markets, including aerospace and defense, oil and gas, automotive, and electrical energy, among many others. With regard to materials, the company generates most of its revenue from the production of nickel-based alloys, titanium products, titanium alloys, and other specialty alloys. Allegheny also manufactures flat-rolled stainless-steel products. Key value-added product lines are frequently used in applications that require stress tolerance as well as corrosion and heat resistance.See more from Benzinga * Recap: Ardmore Shipping Q1 Earnings * Diebold Nixdorf: Q1 Earnings Insights * Recap: Oxford Immunotec Global Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Allegheny's (ATI) A&T Stainless JV does not have any viable alternative to imports and suffers unsustainable losses due to Section 232 tariffs.
ATI to Hold Virtual 2020 Annual Meeting of Stockholders
As the coronavirus pummels the airline industry, Pittsburgh-based companies— including Howmet Aerospace Inc., Allegheny Technologies Inc. and Alcoa Corp.— will feel the impacts ripple through the supply chain. Boeing, already dealing with the lingering issues of its grounded 737 Max jets, announced a number of mitigation efforts in recent weeks, including the temporary suspension of operations at the majority of its production facilities and a voluntary layoff plan. George Ferguson, a Bloomberg Intelligence analyst who follows aerospace and defense and airlines, said these actions show the industry’s plan to slow the build of airplanes until it can get a handle on how many airlines will take deliveries this year.
Shares of Allegheny Technologies (NYSE: ATI) jumped as much as 17.8% in trading on Tuesday after the company reported first-quarter 2020 earnings. At 2:25 p.m. EDT today, shares of the specialty metals company were still up 15.8% and seemed to be holding on to the gains for the day. Quarterly revenue was down 5% versus a year ago to $956 million, although it was flat when accounting for divested businesses over the past year.
Allegheny Technologies (ATI) delivered earnings and revenue surprises of 53.85% and 4.65%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Starting with first quarter 2020, Allegheny Technologies Inc. (NYSE: ATI) will report its results according to a new, realigned business portfolio, according to a news release. The company segmented its business units into a High Performance Materials and Components segment—which will include specialty metals and forged products— and the new Advanced Alloys and Solutions segment– which will include specialty alloys and components, flat rolled products and aerospace grade titanium plate products. “We are committed to generating increased shareholder value from our business portfolio and continually evaluate our structure to ensure that we deliver the optimal combination of growth and profitability,” ATI CEO and President Robert Wetherbee, said in a prepared statement.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
ATI earnings call for the period ending March 31, 2020.
Q1 2020 Allegheny Technologies Inc Earnings Call
Lacking Tariff Relief, A&T Stainless To Idle Midland Operations
Zacks.com featured highlights include: Cardinal Health, AmerisourceBergen, Atlas Air Worldwide, Allegheny Technologies and CVS Health
Only one local company has seen its share price increase since the market began to react to the realities of the COVID-19 pandemic.
A vaccine trial has the airlines surging, and companies supplying them are going along for the ride.
ATI Announces First Quarter Results