ATI Inc

Latest Results (22.12.2024):

Sales Performance

ATI Inc. reported its financial results for the third quarter of 2024, achieving sales of $1.05 billion. This marks the ninth consecutive quarter where the company has exceeded $1 billion in sales. The aerospace and defense sectors were significant contributors, representing 62% of the total sales for this period.

Net Income and Earnings

For the third quarter of 2024, ATI Inc. recorded a net income attributable to the company of $82.7 million, translating to earnings of $0.57 per share. This reflects a slight increase of 1% in net income compared to the previous quarter, although it represents an 8% decrease from the same quarter in the previous year.

Adjusted Financial Metrics

ATI Inc.'s adjusted net income for the third quarter of 2024 was $85.9 million, or $0.60 per share. The company's adjusted EBITDA was reported at $185.7 million, which is 17.7% of sales, showing a sequential increase of 100 basis points. These adjusted figures exclude certain pre-tax charges related to start-up and transaction costs.

Segment Performance

The High Performance Materials & Components (HPMC) segment reported sales of $552.4 million for Q3 2024, with an EBITDA of $123.2 million, or 22.3% of sales. Meanwhile, the Advanced Alloys & Solutions (AA&S) segment saw sales of $498.8 million and an EBITDA of $73.6 million, or 14.8% of sales. Both segments experienced varying impacts from market demand and product sales.

Outlook and Strategic Actions

Looking ahead, ATI Inc. anticipates continued uncertainty with key customers through the remainder of 2024 and into early 2025. Despite these challenges, the company remains optimistic about strong demand in its end markets. ATI has also announced a $700 million share repurchase authorization, with $40 million repurchased in Q3 2024, as part of its strategy to return cash to shareholders and manage its capital structure effectively.