Investing.com - Allegheny Technologies (NYSE:ATI) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Allegheny Technologies announced earnings per share of $0.2 on revenue of $955.5M. Analysts polled by Investing.com anticipated EPS of $0.14 on revenue of $935.27M. That with comparison to EPS of $0.12 on revenue of $1B in the same period a year before. Allegheny Technologies had reported EPS of $0.36 on revenue of $1.02B in the previous quarter. Analysts are expecting EPS of $0.11 and revenue of $945.45M in the upcoming quarter.
Allegheny Technologies shares are down 65.15% from the beginning of the year , still down 71.94% from its 52 week high of $25.66 set on July 1, 2019. They are under-performing the EUR/USD which is down 0% year to date.
Allegheny Technologies shares gained 2.78% in pre-market trade following the report.
Allegheny Technologies follows other major Basic Materials sector earnings this month
Allegheny Technologies's report follows an earnings missed by Newmont Goldcorp on Tuesday, who reported EPS of $0.4 on revenue of $2.58B, compared to forecasts EPS of $0.42 on revenue of $2.71B.
Air Products had missed expectations on April 23 with second quarter EPS of $2.04 on revenue of $2.22B, compared to forecast for EPS of $2.08 on revenue of $2.16B.
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