ATI Inc. Q1 Profit Increases, beats estimates

(RTTNews) - ATI Inc. (ATI) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $70.1 million, or $0.48 per share. This compares with $30.9 million, or $0.23 per share, in last year's first quarter.

Excluding items, ATI Inc. reported adjusted earnings of $71.2 million or $0.49 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.3% to $1.04 billion from $0.83 billion last year.

ATI Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $70.1 Mln. vs. $30.9 Mln. last year. -EPS (Q1): $0.48 vs. $0.23 last year. -Analyst Estimate: $0.48 -Revenue (Q1): $1.04 Bln vs. $0.83 Bln last year.