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Allegheny Technologies Inc (ATI)

ATI on New York Consolidated

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21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Allegheny Technologies reports Q3 results
Tuesday, 25 Oct 2016 07:15am EDT 

Allegheny Technologies Inc : ATI announces third quarter 2016 results . Q3 loss per share $0.21 excluding items . Q3 loss per share $4.95 . Q3 sales $771 million . Allegheny says "beyond 2017, we continue to expect capital expenditures to average no more $100 million annually for next several years" . Allegheny says now expect full year 2016 capital expenditures to be approximately $215 million . Allegheny says additional restructuring actions expected to improve 2017 FRP segment operating profit by approximately $10 million . Allegheny says restructuring among other things expected to improve operating earnings by about $50 million beginning in 2017, mainly in HPMC segment . Allegheny says "looking beyond this year, we expect FRP segment to be profitable in 2017" . Allegheny says expect 2017 capital expenditures to be approximately $120 million including 2016 carryover among others . Allegheny says expect to recognize approximately $10 million of additional closure costs for Rowley facility in Q4 2016 .Allegheny says sales to aerospace and defense market represented 77% of Q3 segment sales: 45% jet engine, 20% airframe, 12% government aero/defense.  Full Article

Allegheny Technologies announces actions to improve future financial performance
Wednesday, 24 Aug 2016 05:03pm EDT 

Allegheny Technologies Inc : Allegheny technologies announces actions to improve future financial performance . Actions are expected to improve ATI's annual operating income by about $50 million beginning in 2017 . Total charges from actions, including tax valuation allowance, are expected to be $4.89 per share . In addition, actions are expected to generate about $50 million of cash flow from lower managed working capital . Expects to record total pre-tax, non-cash impairment charges of about $470 million for idled facilities . Expects to record pre-tax shutdown and idling costs of about $34 million ($23 million after tax, or $0.22 per share) . ATI's Rowley, UT titanium sponge facility will be idled by end of 2016 . As a result of actions, expects total pre-tax, non-cash impairment charges of about $470 million for idled facilities . $4.83 per share of total charges from actions is expected to be recognized in Q3 2016 and remainder in Q4 2016 . Will also record about $183 million, or $1.71 per share, in non-cash income tax valuation allowances related to U.S. Federal tax benefits . Consolidating certain higher cost titanium hot-working operations in Albany . Total charges expected to be $4.89 per share, of which $4.83 per share expected to be recognized in Q3, remainder in Q4.  Full Article

Allegheny Technologies reports Q2 loss per share $0.18
Tuesday, 26 Jul 2016 07:49am EDT 

Allegheny Technologies Inc : Q2 loss per share $0.18 . Q2 sales rose 7 percent to $811 million . Allegheny Technologies Inc says expect shipments of specialty coil and plate products to increase in second half of 2016 . Q2 earnings per share view $-0.37, revenue view $792.8 million -- Thomson Reuters I/B/E/S . ATI says continue to estimate that full year 2016 capital expenditures will be less than $240 million .ATI says beyond 2016 we expect capital expenditures to be less than $100 million annually for next several years.  Full Article

Allegheny Technologies agreed to sell $250.0 million aggregate principal of 4.75% convertible senior notes due 2022
Wednesday, 18 May 2016 09:25pm EDT 

Allegheny Technologies Inc: Agreed to sell $250.0 million aggregate principal amount of 4.75% convertible senior notes due 2022 . Has granted underwriters a 30-day option to purchase up to an additional $37.5 million aggregate principal amount of notes . Notes will pay interest semi-annually in arrears at a rate of 4.75% per year and will mature on July 1, 2022 .Allegheny technologies announces pricing of convertible senior notes offering.  Full Article

Allegheny Technologies agreed to sell $250.0 million aggregate principal of 4.75% convertible senior notes due 2022
Wednesday, 18 May 2016 06:19pm EDT 

Allegheny Technologies Inc: Agreed to sell $250.0 million aggregate principal amount of 4.75% convertible senior notes due 2022 . Has granted underwriters a 30-day option to purchase up to an additional $37.5 million aggregate principal amount of notes . Notes will pay interest semi-annually in arrears at a rate of 4.75% per year and will mature on July 1, 2022 .Allegheny technologies announces pricing of convertible senior notes offering.  Full Article

Allegheny Technologies sets quarterly dividend of $0.08/shr
Friday, 6 May 2016 01:41pm EDT 

Allegheny Technologies Inc :Sets quarterly cash dividend of $0.08 per share.  Full Article

Allegheny Technologies Inc to cut over 250 positions at its FRP operations - Reuters News
Tuesday, 19 Apr 2016 02:18am EDT 

Allegheny Technologies Inc:ATI announces restructuring actions to further streamline flat rolled products operations.Allegheny Technologies Inc says $9 million of Q1 2016 charges for salaried workforce reductions.Over $30 million of annual savings from restructuring actions to begin in Q3 2016.Reduction of approximately one third of FRP's salaried workforce through elimination of over 250 positions.Allegheny Technologies Inc says restructuring of its flat rolled products (FRP) operations with reduction of over 250 positions.Expect flat rolled products business to be modestly profitable in second half of 2016.Workforce reduction will be completed by end of Q2 2016.  Full Article

Allegheny Technologies Incorporated announces restructuring actions to further streamline flat rolled products operations
Monday, 18 Apr 2016 04:25pm EDT 

Allegheny Technologies Incorporated:The next phase in the restructuring of its Flat Rolled Products (FRP) operations with the reduction of approximately one third of FRP's salaried workforce through the elimination of over 250 positions.This workforce reduction will be completed by the end of the second quarter 2016.As a result of these actions, ATI will record a $9 million severance charge in first quarter 2016 results.These actions are expected to generate annualized cost savings benefits of over $30 million beginning in the third quarter 2016.  Full Article

Allegheny Technologies Inc issues statement regarding nlrb complaint
Thursday, 11 Feb 2016 04:51pm EST 

Allegheny Technologies Inc:Says issues statement regarding nlrb complaint.Issues statement regarding nlrb complaint.Says "believes this is a legal work stoppage that resulted after a lack of progress in contract negotiations".  Full Article

Allegheny Technologies Declares Quarterly Dividend
Thursday, 10 Dec 2015 04:45pm EST 

Allegheny Technologies Incorporated:declared a quarterly cash dividend of $0.08 per share of common stock. The dividend is payable on December 30, 2015 to stockholders of record at the close of business on December 21, 2015.Reducing our quarterly cash dividend to $0.08 per share from $0.18 per share in the previous quarter.  Full Article

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BRIEF-Allegheny technologies announces fourth quarter results

* Allegheny Technologies Inc says ongoing FRP restructuring to focus on value, not volume, including permanent idling of midland and bagdad, pa facilities