Allegheny Technologies Expects To Increase Q1 Earnings Year-over-year

(RTTNews) - While reporting its financial results for the fourth quarter on Tuesday, Allegheny Technologies Inc. (ATI) said it expects to increase earnings per share for the first quarter of 2020 year-over-year on a like-tax basis despite aerospace industry challenges.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

The company said it was proactively managing its cost structure and will be opportunistic with its capacity to minimize the negative financial impacts from the 737 MAX production stoppage.

Allegheny Technologies will provide more commentary on its full-year 2020 outlook and underlying assumptions in its fourth-quarter conference call.