- Allegheny Technologies (NYSE:ATI) +3.8% pre-market after topping Q4 earnings estimates and saying it expects higher Q1 EPS than in the prior-year quarter despite aerospace industry challenges.
- Allegheny reports Q4 sales in its HPMC segment jumped 10% Y/Y to $603M, excluding sales from the recently divested titanium investment castings and industrial forgings businesses, with operating profit rising 22% to $92.8M and segment operating profit margins increasing 270 bps to 15.4% of sales.
- However, Allegheny forecasts Q1 and FY 2020 EPS below Wall Street estimates; the company sees Q1 EPS of $0.12-$0.16 vs. $0.32 analyst consensus, and forecasts full-year EPS of $0.75-$0.90 vs. $1.41 consensus.
- "We are proactively managing our cost structure and will be opportunistic with our capacity to minimize the negative financial impacts from the 737 MAX production stoppage," the company says.