DALLAS (AP) 鈥� DALLAS (AP) 鈥� ATI Inc. (ATI) on Thursday reported first-quarter profit of $118.2 million.
The Dallas-based company said it had profit of 85 cents per share. Earnings, adjusted for one-time gains and costs, came to $1 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The maker of steel and specialty metals posted revenue of $1.15 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.19 billion.
For the current quarter ending in June, ATI expects its per-share earnings to range from 98 cents to $1.04.
The company expects full-year earnings in the range of $4.20 to $4.48 per share.
ATI shares have increased 27% since the beginning of the year, while the S&P’s 500 index has climbed 4%. The stock has more than doubled in the last 12 months.
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