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News Breaks
April 17, 2014
16:17 EDTATIAllegheny Technologies to close iron castings business
Allegheny Technologies disclosed in a regulatory filing that on April 15 the company determined that it would close its iron castings business, which was held for sale as part of discontinued operations. The planned divestiture of this business through a sale process, which was announced in October 2013, was not able to be completed on commercially acceptable terms. The orderly wind-down of operations is expected to be completed by the end of June 2014. The closure of the iron castings business will result in approximately $3M of cash exit costs in 2014, including approximately $2M of charges that will be recognized in the company’s Q2 ending June 30, primarily related to severance benefits, as part of the results of discontinued operations.
News For ATI From The Last 14 Days
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July 21, 2015
14:10 EDTATIAllegheny Technologies downgraded to Neutral from Buy at BofA/Merrill
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13:32 EDTATIAllegheny Technologies weakness a buying opportunity, says Stifel
07:19 EDTATIAllegheny Technologies sees FY15 capex roughly $250M
“Our balance sheet remains solid, with cash on hand of $251M at the end of the second quarter 2015 and no borrowings outstanding under our $400M domestic borrowing facility. Total debt to total capitalization of 37.0% at the end of the second quarter 2015 was unchanged from year-end 2014. Including expected payments associated with the HRPF project, we now expect 2015 capital expenditures to be approximately $250M, of which $63M has been spent in the first six months of 2015.”
07:16 EDTATIAllegheny Technologies reports Q2 EPS (15c), consensus 4c
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July 20, 2015
15:11 EDTATIAllegheny Technologies technical notes before earnings
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