Allegheny Technologies: Q3 Earnings Snapshot

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PITTSBURGH (AP) _ Allegheny Technologies Inc. (ATI) on Thursday reported third-quarter net income of $48.7 million, after reporting a loss in the same period a year earlier.

The Pittsburgh-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring gains, were 5 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The maker of steel and specialty metals posted revenue of $725.7 million in the period.

Allegheny Technologies shares have decreased 11% since the beginning of the year, while the S&P's 500 index has climbed 21%. The stock has increased 68% 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