Allegheny: Q3 Results Excl. Impairment Charge To Be In Line With Prior Outlook

(RTTNews) - Allegheny Technologies Incorporated (ATI) announced a non-cash net of tax charge of $114 million, or $1.05 per share, for goodwill impairment related to the Cast Products business. The company expects third-quarter sales to be in the range of $865 to $875 million with a reported loss in the range of $1.11 to $1.14 per share, including the $1.05 per share charge for the goodwill impairment. Excluding the charge, the reported loss is anticipated in the range of $0.06 to $0.09 per share.

"Excluding the goodwill impairment charge, we expect our third quarter 2017 results to be in line with our outlook provided in July," said Rich Harshman, ATI's CEO.