DALLAS — Allegheny Technologies Inc. (ATI) on Tuesday reported third-quarter net income of $82.7 million.
The Dallas-based company said it had net income of 57 cents per share. Earnings, adjusted for restructuring costs, came to 60 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The maker of steel and specialty metals posted revenue of $1.05 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.13 billion.
Allegheny Technologies expects full-year earnings in the range of $2.24 to $2.30 per share.
Allegheny Technologies shares have climbed 39% since the beginning of the year, while the S&P’s 500 index has climbed 22%. The stock has risen 68% in the last 12 months.
