Allegheny Tech beats by $0.16, reports revs in-line
- Reports Q2 (Jun) earnings of $0.52 per share, $0.16 better thanthe Capital IQ Consensus of $0.36; revenues rose 14.7% year/year to $1.01 bln vs the $1 bln Capital IQ Consensus.
- Outlook:
- Co said, "In the HPMC segment, we expect continued year-over-year revenue and operating profit growth in the second half of 2018 resulting from ongoing aerospace market demand growth and improved asset utilization. We remain confident in our customers' continued elevated order patterns due to increasing jet engine build rates over the next several years."
- "In the FRP segment, we see continued strong end-market demand and the benefits from ongoing operational improvements, growth in our differentiated products, and benefits from the A&T Stainless joint venture."
- "We expect strong second half 2018 cash generation, with at least $150 million of free cash flow for the full year 2018, excluding about $40 million in contributions to the ATI Pension Plan."
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