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Allegheny Technologies Inc (ATI)

ATI on New York Consolidated

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23 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Allegheny Technologies sees Q3 2017 sales $865 mln to $875 mln
Thursday, 12 Oct 2017 07:30am EDT 

Oct 12 (Reuters) - Allegheny Technologies Inc ::Sees Q3 2017 sales $865 million to $875 million.Allegheny Technologies Inc - ‍excluding goodwill impairment charge, expect Q3 2017 results to be in line with outlook provided in july​.Allegheny Technologies Inc - ‍Q3 financial results and announced a non-cash net of tax charge of $114 million, or $1.05 per share​.Allegheny Technologies Inc - co ‍continue to expect FRP segment to be modestly profitable for full year 2017​.Allegheny Technologies Inc - ‍ATI's Q3 2017 sales are expected to be in range of $865 to $875 million​.Sees Q3 2017 loss per share $1.11 to $1.14.Q3 earnings per share view $0.07, revenue view $850.7 million -- Thomson Reuters I/B/E/S.Allegheny Technologies Inc - ‍excluding the charge, Q3 reported loss is anticipated in range of $0.06 to $0.09 per share​.Allegheny Technologies -sees Q3 2017 reported loss in range of $1.11 to $1.14 per share, including $1.05 loss per share charge for goodwill impairment​.  Full Article

Allegheny Technologies Inc Q2 earnings per share $0.09
Tuesday, 25 Jul 2017 07:20am EDT 

July 25 (Reuters) - Allegheny Technologies Inc :ATI announces second quarter 2017 results.Q2 earnings per share $0.09.Q2 sales rose 9 percent to $880.2 million.Allegheny Technologies Inc - remained on track in HPMC segment in first half 2017.Allegheny Technologies Inc - ‍expect FRP segment to deliver an improved product mix and to continue to realize operational improvements in Q3​.Allegheny Technologies Inc - ‍for full year 2017, continue to expect that FRP segment will be modestly profitable​.Allegheny Technologies Inc - ‍expect FRP segment to operate at a loss in Q3 2017​.Allegheny Technologies Inc - ‍we continue to estimate that 2017 capital expenditures will be $125 million, with $55 million expended in first half of this year​.Allegheny Technologies Inc - ‍expect Q3 to be negatively impacted by recent fall in raw material prices, especially ferrochrome and nickel​.Allegheny Technologies - expect H2 2017 HPMC segment to sustain strong performance in commercial aerospace, to continue a low-double-digit operating profit level as a percent of sales.Allegheny Technologies Inc - ‍expect second half 2017 HPMC segment results to "sustain strong performance in commercial aerospace​".Allegheny Technologies Inc - for full year 2017, continue to expect that FRP segment will be "modestly" profitable.Expect FRP segment to operate at a loss in Q3 2017.HPMC segment Q2 sales increased 3% to $526 million.  Full Article

ATI announces new long-term purchase agreement with Pratt & Whitney
Tuesday, 25 Jul 2017 06:55am EDT 

July 25 (Reuters) - Allegheny Technologies Inc :ATI announces new long-term purchase agreement with Pratt & Whitney.‍For period 2017 to 2030, LTPA is expected to generate revenues in excess of $1 billion​.For period 2017 to 2030, LTPA is expected to generate revenues in excess of $1 billion.‍LTPA, which builds on master terms agreement that co entered into with UTC last year, begins in 2017, continues for life of engine programs​.Signed purchase agreement with Pratt & Whitney to supply isothermal forgings and nickel-based powder alloys for next-generation jet engines​.  Full Article

Allegheny Technologies reports JV with GE Aviation
Wednesday, 5 Jul 2017 07:45am EDT 

July 5 (Reuters) - Allegheny Technologies Inc ::Allegheny Technologies announced JV with GE Aviation for the development of a new meltless titanium alloy powder manufacturing technology.Allegheny Technologies - JV for development of new meltless titanium alloy powder manufacturing technology, JV will construct new research and development pilot production facility.  Full Article

Allegheny Technologies expects Q2 sales between $865 mln-to $890 mln
Thursday, 29 Jun 2017 07:34am EDT 

June 29 (Reuters) - Allegheny Technologies Inc : :Ati comments on second quarter 2017; completes extension of ABL and term loan.Allegheny Technologies Inc - extended its asset based lending facility, including maturity of its $100 million term loan, to February 2022..Says ‍expects to report Q2 2017 sales in range of $865 to $890 million​.Says ATI has no significant debt maturities until June 2019.Expects to report Q2 2017 EPS in range of $0.04 to $0.09 per share.Says ‍corporate and closed operations expenses are expected to be approximately $10 million higher in Q2 2017 versus Q1​."Significant declines in raw material prices in Q2 are negatively impacting raw material surcharges and transaction prices"."Expect flat rolled products segment (FRP) Q2 results to be at or near breakeven".  Full Article

Allegheny Technologies, units enter into second amendment
Tuesday, 27 Jun 2017 05:29pm EDT 

June 27 (Reuters) - Allegheny Technologies Inc ::Allegheny Technologies - on June 21, 2017, co, units entered into a second amendment to revolving credit and security agreement - SEC filing.Allegheny Technologies - second amendment extends term of company's $400 million revolving credit facility under credit agreement to February 28, 2022.Allegheny Technologies Inc - second amendment extends maturity of its $100 million term loan under credit agreement to February 28, 2022.Allegheny Technologies Inc - amendment reduces applicable margin by 0.25% for advances under revolver and by 0.50% for term loan.  Full Article

Iridian Asset Management reports 10.1 pct passive stake in Allegheny Technologies
Tuesday, 6 Jun 2017 10:07am EDT 

June 6 (Reuters) - Iridian Asset Management LLC::Reports a 10.1 percent passive stake in Allegheny Technologies Inc as of May 31, 2017 - SEC filing.  Full Article

ATI posts Q1 earnings per share $0.16
Tuesday, 25 Apr 2017 07:30am EDT 

April 25 (Reuters) - Allegheny Technologies Inc :ATI announces first quarter 2017 results.Q1 earnings per share $0.16.Q1 sales $866 million.Q1 earnings per share view $0.11, revenue view $846.2 million -- Thomson Reuters I/B/E/S.Allegheny Technologies Inc - continue to estimate that 2017 capital expenditures will be $125 million, with $25 million expended in Q1 2017.Allegheny - HPMC segment remains on track for 2017 sales growth of about 10 pct, and low-double-digit operating profit as a percentage of sales.Allegheny Technologies Inc - do not expect to pay any U.S. Federal Income taxes in 2017 due to net operating loss carryforwards.Allegheny Technologies - have support from agent bank to extend duration of $100 million abl term loan from due date in November 2017 to September 2020.Allegheny Technologies Inc - beyond 2017, we continue to expect capital expenditures to average no more than $100 million annually for next several years.Allegheny Technologies Inc - closed operations costs in fiscal year 2017 are expected to be higher than in fiscal year 2016.  Full Article

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

BRIEF-Allegheny Technologies sees Q3 2017 sales $865 mln to $875 mln

* Allegheny Technologies Inc - ‍excluding goodwill impairment charge, expect Q3 2017 results to be in line with outlook provided in july​