8-KEarnings & ResultsExhibits & Filings

ATI INC 8-K Report, Financial Results (Oct 12, 2005)

Filed October 12, 2005For Securities:ATI

Summary

Allegheny Technologies Incorporated (ATI) filed an 8-K on October 12, 2005, to announce preliminary expectations for its third quarter 2005 earnings. The company anticipates earnings per share to be in the range of $0.84 to $0.88. This guidance notably includes a $4 million favorable impact from the resolution of prior years' tax matters. This expected outcome significantly exceeds the consensus analyst estimates, which ranged from $0.68 to $0.83 per share, with a mean of $0.76. The announcement also provided details for the official release of third quarter 2005 results, scheduled for October 26, 2005, before market open. A conference call for investors and analysts to discuss these results is planned for the same day at 1 p.m. ET, and will be accessible via a live webcast on ATI's corporate website. Investors should note that the provided earnings guidance is an expectation and subject to the finalization of financial results.

Key Highlights

  • 1ATI expects Q3 2005 earnings per share to be between $0.84 and $0.88.
  • 2The projected earnings include a $4 million favorable resolution of prior tax matters.
  • 3The company's guidance surpasses the average analyst estimate of $0.76 per share.
  • 4Analyst estimates for Q3 2005 ranged from $0.68 to $0.83 per share.
  • 5ATI plans to release its official Q3 2005 results on October 26, 2005.
  • 6A conference call and webcast for investors are scheduled for October 26, 2005, at 1 p.m. ET.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide investors with a preliminary update on Allegheny Technologies Incorporated's (ATI) expected financial results for the third quarter of 2005, which were not yet officially released. It also announces the date and time for the official earnings release and conference call.

ATI's expected earnings per share of $0.84 to $0.88 for the third quarter of 2005 are significantly higher than the consensus analyst estimate of $0.76 per share. The analyst range was $0.68 to $0.83, meaning ATI's guidance exceeds even the upper end of the analyst range.

A portion of the higher earnings guidance is attributed to a $4 million favorable resolution of prior years' tax matters. This is a one-time benefit that positively impacts the expected third quarter results.

ATI is scheduled to release its official third quarter 2005 results before the market opens on Wednesday, October 26, 2005. A conference call to discuss these results will follow at 1 p.m. ET on the same day.