Allegheny Technologies suffers through 2015

Allegheny Technologies Inc. (NYSE: ATI) reported fourth quarter 2015 sales of USD739 million and a net loss attributable to ATI of USD227 million, or USD(2.12) per share, the company said.

Fourth quarter 2015 results include USD267 million of previously announced, pre-tax charges.

For the full year 2015, ATI reported a loss from continuing operations attributable to ATI of USD378 million, or USD(3.53) per share, on USD3.7 billion in sales.

“2015 was an incredibly difficult year, and the fourth quarter was the most challenging of the year,” said Rich Harshman, chairman, president and chief executive officer. “Early indicators in 2015 of increasing weakness in the oil and gas market and the effects of low-priced commodity stainless sheet imports on flat rolled products´ markets were only the beginning.”

ATI´s sales to the key global markets of aerospace and defense, oil and gas/chemical and hydrocarbon processing industry, electrical energy, automotive and medical represented 79 percent of ATI sales for 2015:
Sales to the aerospace and defense markets were USD1.51 billion and represented 41 percent of ATI sales: 21 percent jet engine, 13 percent airframe, 7 percent defense. ATI´s sales to the commercial aerospace market increased 8 percent in 2015 compared to 2014.

Allegheny Technologies produces specialty materials and components, with revenues of approximately USD3.7 billion in 2015.