Allegheny Technologies (ATI) Tops Q2 EPS by 10c

Allegheny Technologies (NYSE: ATI) reported Q2 EPS of ($0.02), $0.10 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $770 million versus the consensus estimate of $755.09 million.

Outlook:

"We anticipate the current challenging and uncertain economic conditions to persist for at least the balance of 2020 due to the ongoing COVID-19 pandemic. We are taking significant steps to help mitigate the negative impacts on our financial results while ensuring a strong balance sheet and preserving free cash flows," said Wetherbee. "We didn't create this crisis, but we intend to emerge from it a stronger, more focused company when business conditions normalize and return to growth likely in 2021 and more meaningfully in 2022 and beyond."

For earnings history and earnings-related data on Allegheny Technologies (ATI) click here.

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