DALLAS (AP) — DALLAS (AP) — ATI Inc. (ATI) on Tuesday reported third-quarter profit of $110 million.
On a per-share basis, the Dallas-based company said it had net income of 78 cents. Earnings, adjusted for one-time gains and costs, were 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The maker of steel and specialty metals posted revenue of $1.13 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.14 billion.
For the current quarter ending in December, ATI expects its per-share earnings to range from 84 cents to 90 cents.
The company expects full-year earnings in the range of $3.15 to $3.21 per share.
ATI shares have climbed 67% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has increased 49% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATI at https://www.zacks.com/ap/ATI
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