WASHINGTON (dpa-AFX) - (Adds Outlook)
ATI Inc. (ATI) released earnings for third quarter that decreased from last year and missed the Street estimates.
The company's bottom line came in at $82.7 million, or $0.57 per share. This compares with $90.2 million, or $0.62 per share, in last year's third quarter.
Excluding items, ATI Inc. reported adjusted earnings of $85.9 million or $0.60 per share for the period.
Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 2.4% to $1.051 billion from $1.026 billion last year.
Outlook:
ATI has cut its full-year earnings outlook below analysts' view, citing continuing uncertainty with its most critical customers through the remainder of 2024 and first part of 2025. It currently expects adjusted EPS in the range of $2.24 - $2.30, down from $2.40 - $2.60 guided earlier.
ATI Inc. Q3 earnings at a glance (GAAP) :
-Earnings (Q3): $82.7 Mln. vs. $90.2 Mln. last year. -EPS (Q3): $0.57 vs. $0.62 last year. -Revenue (Q3): $1.051 Bln vs. $1.026 Bln last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
