Investing.com - Allegheny Technologies (NYSE:ATI) reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Allegheny Technologies announced earnings per share of $0.05 on revenue of $725.7M. Analysts polled by Investing.com anticipated EPS of $-0.025 on revenue of $669.17M.
Allegheny Technologies shares are up 49% from the beginning of the year, still down 32.67% from its 52 week high of $25.04 set on June 1. They are outperforming the STOXX 600 which is up 18.74% from the start of the year.
Allegheny Technologies shares gained 12.85% in intra-day trade following the report.
Allegheny Technologies follows other major Basic Materials sector earnings this month
Allegheny Technologies's report follows an earnings missed by Sherwin-Williams on Tuesday, who reported EPS of $2.09 on revenue of $5.15B, compared to forecasts EPS of $2.13 on revenue of $5.09B.
Freeport-McMoran had beat expectations on October 21 with third quarter EPS of $0.89 on revenue of $6.08B, compared to forecast for EPS of $0.8088 on revenue of $6.18B.
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