Allegheny Technologies Shares Rose 17% on Strong Q4 Beat & Better Outlook
<p><a href='https://financialmodelingprep.com/financial-summary/ATI'>Allegheny Technologies Incorporated (NYSE:ATI) </a>reported a strong Q4 beat and above-Street outlook, pushing the stock price 17% higher on Wednesday.</p>
<p>Q4 EPS came in at $0.10, which is 150% above the consensus estimate and the midpoint of the company’s 2022 guidance was around 40% ahead of the consensus estimate. Management guidance suggests positive adjusted FCF in 2022 and the company also announced a $150 million share buyback authorization. </p>
<p>Analysts at Berenberg Bank provided their views on the company following the results, noting that they like the company, given (1) rising sales and earnings in 2021-2023, mainly driven by narrowbody build rate increase, (2) improving mix, which should warrant a higher multiple, and (3) improving balance sheet and FCF.</p>

NYSE:ATI