ATI standard stainless steel products increased 26.7% in the first third quarter

On the Oct. 24, Allegheny Technologies Inc. (ATI) published its 2017 year’s third quarter and first three quarter performance reports.

ATI's third quarter sales of USD 869.1 million, an increase of nearly 13% and the chain fell nearly 1.3%. Among them, high-performance materials and component (HPMC) increased by about 11% and the chain fell nearly 2.6% to USD 5.129 billion.

Flat rolled product (FRP) increased by nearly 15.4% and slightly increased by nearly 0.7% to USD 352.2 million.

Flat rolled product in the third quarter of the standard stainless steel products (sheet and plate) sales chain increased by about 1% to 115,907 thousand pounds, but the average price mainly due to surcharge decline to $ 1.13 / lb, resulting in standard stainless steel Sales of products chain fell by 7%. While sales of high-value products increased by nearly 12.9% to 83637 thousand pounds, accounting for 64% of this part sales. Year on year, the high-value products and standard stainless steel products sales have increased, and most of the standard stainless steel products and precision rolling products in the price with a slight increase.

Flat rolled product (FRP) affected by heterogeneous raw material surcharge Lost USD 7.3 million, the profit was not as good as the previous quarter's USD 2.9 million, but better than the same period last year's loss of USD 20.8 million.

The net loss attributable to ATI in the third quarter was USD 121.2 million, which included a goodwill amortization fee of USD 113.6 million for the HPMC Casting business after tax. Not as good as the previous quarter's net profit of USD 10.1 million, better than the same period last year net loss of USD 530,80 million (including special fee of USD 508.3 million).

The first three quarters, ATI's operating profit of USD 195.2 million, compared with loss of USD 47.3 million in the same period last year. Among them, HPMC grew up nearly 57.2% to USD 180.6 million, FRP from the same period last year lost of USD 162.2 million to USD 14.6 million.