ATI lowers expectations for third-quarter performance

Jul 25, 2012 | 03:55 PM | Thorsten Schier

Tags  ATI, Allegheny Technologies, earnings, Richard Harshman, stainless, nickel-based alloys, titanium, aerospace oil and gas

NEW YORK — Allegheny Technologies Inc. (ATI) expects sales and earnings to "trough" in the third quarter due to macroeconomic concerns, falling raw material prices and the summer slowdown.

"As we look at the second half of 2012, slower-than-expected economic growth in the United States and China, fiscal economic uncertainties in Europe, fiscal and regulatory uncertainties in the United States and falling raw material costs create near-term headwinds for demand growth," ATI chairman, president and chief executive officer Richard Harshman said. ....

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