29
Apr
17:56
Allegheny Technologies reports first-quarter loss
US specialty metals producer Allegheny Technologies Inc (ATI) fell into the red during the first quarter, Kallanish reports.
ATI lost $7.9 million during the quarter on sales of $693m, down from earnings of $21.1m on sales of $956m in Q1 2021.
"Our first quarter financial results exceeded expectations, benefiting from the ongoing modest recovery in jet engine production, our aggressive 2020 cost cutting actions and a strong tailwind from nickel a…
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