Investing.com - Allegheny Technologies (NYSE:ATI) reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Allegheny Technologies announced earnings per share of $-0.33 on revenue of $693M. Analysts polled by Investing.com anticipated EPS of $-0.2425 on revenue of $637.21M.
Allegheny Technologies shares are up 18% from the beginning of the year and are trading at $24.04 , down-from-52-week-high.They are outperforming the S&P 500 which is up 11.37% from the start of the year.
Allegheny Technologies follows other major Basic Materials sector earnings this month
Allegheny Technologies's report follows an earnings beat by Vale ADR on Tuesday, who reported EPS of $1.09 on revenue of $12.65B, compared to forecasts EPS of $1.06 on revenue of $13.04B.
BASF ADR had beat expectations on Wednesday with first quarter EPS of $0.6045 on revenue of $23.45B, compared to forecast for EPS of $0.59 on revenue of $20.6B.
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