Allegheny Technologies: Q3 Earnings Snapshot

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PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Wednesday reported third-quarter profit of $61.1 million.

On a per-share basis, the Pittsburgh-based company said it had profit of 42 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The maker of steel and specialty metals posted revenue of $1.03 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $898.1 million.

Allegheny Technologies shares have climbed 95% since the beginning of the year, while the S&P's 500 index has dropped 19%. The stock has risen 87% 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