The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Allegheny Technologies missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Allegheny Technologies notched revenue of $1.10 billion. The nine analysts polled by S&P Capital IQ predicted a top line of $1.15 billion on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $1.25 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.18. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.14 per share. GAAP EPS of $0.10 for Q4 were 66% lower than the prior-year quarter's $0.29 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 11.3%, 220 basis points worse than the prior-year quarter. Operating margin was 3.0%, 270 basis points worse than the prior-year quarter. Net margin was 1.0%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.29 billion. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $5.43 billion. The average EPS estimate is $1.99.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Allegheny Technologies is outperform, with an average price target of $39.04.
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