Allegheny Technologies Sees Q2 Loss

(RTTNews) - Allegheny Technologies Inc. (ATI) said Tuesday that it expects to report a net loss attributable to company of $16 to $18 million, or $0.15 to $0.17 per share, for the second quarter, due mainly to challenging business conditions in its Flat Rolled Products business and further weakening in demand from the oil and gas market.

Analysts polled by Thomson Reuters currently expect the company to earn $0.20 per share for the second quarter. Analysts' estimates typically exclude special items.

The company said its second quarter performance continued to be pressured by the ATI Flat Rolled Products segment, which recorded its sixth quarterly operating loss over the last eight quarters.