Allegheny Technologies (ATI) Q4 Earnings and Revenues Beat Estimates

Core Insights - Allegheny Technologies (ATI) reported quarterly earnings of $0.64 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and up from $0.53 per share a year ago, indicating a 21% year-over-year increase [1] - The company achieved revenues of $1.06 billion for the quarter, surpassing the Zacks Consensus Estimate by 3.30% and showing a year-over-year increase from $1.01 billion [1] - The stock has underperformed the market, losing approximately 10.1% since the beginning of the year compared to the S&P 500's gain of 1.6% [2] Earnings Performance - The earnings surprise for the recent quarter was 3.23%, and the company has surpassed consensus EPS estimates in all four of the last quarters [1] - The current consensus EPS estimate for the upcoming quarter is $0.54, with expected revenues of $1.03 billion, while the estimate for the current fiscal year is $2.38 on revenues of $4.35 billion [4] Industry Outlook - The Steel - Specialty industry, to which Allegheny Technologies belongs, is currently ranked in the top 6% of over 250 Zacks industries, indicating a favorable outlook [5] - The performance of Allegheny Technologies' stock may be influenced by the overall industry outlook, as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5] Future Expectations - The estimate revisions trend for Allegheny Technologies is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [4] - Haynes International, another company in the same industry, is expected to report quarterly earnings of $0.70 per share, reflecting a year-over-year increase of 14.8% [5][6]