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ATI Inc. (NYSE: ATI) is a global leader in the production of high-performance materials and complex components, catering to various critical industries including aerospace and defense, oil and gas, automotive, and electrical energy. With a rich history in advanced metallurgy, ATI specializes in a wide array of specialty alloys, including nickel-based alloys, superalloys, titanium, zirconium, and stainless steels. Their expertise spans from alloy development to melting, hot-working, and precision machining, culminating in the manufacture of highly engineered finished components.
ATI's business is segmented into High-Performance Materials and Components (HPMC) and Advanced Alloys and Solutions (AAS). The HPMC segment is the primary revenue driver, focusing on high-performance specialty materials for the aerospace, defense, medical, and energy markets. Geographically, ATI operates extensively in the United States, with significant market presence in Europe and Asia.
Recent financial highlights include a robust performance in the third quarter of 2023, with sales of $1.03 billion and net income of $75.7 million. The company reported adjusted EBITDA of $148.1 million, representing 14.4% of sales. Notably, ATI's revenue from aerospace and defense surged to 61%, reflecting the company's strategic emphasis on these high-growth sectors.
Looking ahead, ATI projects revenues exceeding $5 billion and adjusted EBITDA of $1 billion by 2027. This growth is underpinned by long-term agreements in the aerospace and defense markets, driving both top-line and bottom-line expansion. The company is also actively optimizing its operations to meet increasing demand and streamline production processes, thereby enhancing profitability.
ATI's innovative prowess is evident in its development of nickel and titanium-based alloy powders for next-generation jet engines and 3D-printed components. The company's capacity for technological integration and material science expertise positions it as a frontrunner in addressing the world's most challenging material requirements.
Operational leadership is transitioning as Kimberly A. Fields is set to become President and CEO in July 2024, succeeding Robert S. Wetherbee, who will assume the role of Executive Chairman. Fields' tenure as Chief Operating Officer has been marked by significant operational enhancements and capacity expansions, which are expected to drive ATI's future growth.
Investors can look forward to continuous updates and detailed financial discussions, as ATI regularly hosts conference calls and investor updates. The company's strategic focus, combined with a strong financial foundation and innovative capabilities, underscore its commitment to delivering exceptional value to stakeholders.
ATI reported strong Q4 2024 results with sales of $1.17 billion, up 10% year-over-year, and net income of $137.1 million ($0.94 per share). Full-year 2024 sales reached $4.4 billion, the highest since 2012, representing a 5% increase from 2023.
The company's aerospace and defense segment represented 65% of Q4 2024 sales, up from 62% in Q3 2024. Operating cash flow for 2024 was $407 million, significantly higher than $86 million in 2023. Free cash flow increased 50% to $248 million.
Notable Q4 metrics include adjusted EBITDA of $209.8 million (17.9% of sales) and adjusted earnings per share of $0.79. The company maintained a strong cash position of $721 million at year-end and repurchased $260 million in shares during 2024.
ATI (NYSE: ATI), a global producer of high-performance materials for aerospace, defense, electronics, medical, and specialty energy markets, has announced its upcoming fourth quarter and full year 2024 earnings conference call. The event is scheduled for Tuesday, February 4, 2025, at 7:30 a.m. CT (8:30 a.m. ET), with results to be published one hour earlier at 6:30 a.m. CT.
The conference call will be accessible via webcast on ATImaterials.com, where accompanying presentation slides will also be available. Interested parties can access the broadcast through the 'Conference Call' section of the website. A replay of the conference call will be made available on the company's website afterward.
ATI Inc. has completed the sale of its precision rolled strip operations in New Bedford, Massachusetts and Remscheid, Germany to Ulbrich Stainless Steels and Special Metals. The divestiture aligns with ATI's strategic focus on aerospace and defense markets, specifically in titanium, nickel, and alloyed products. The sold operations specialize in thin gauges and small coils for precision rolled strip business. Ulbrich views this acquisition as transformative for their global strategy and will integrate employees from both facilities into their team.
ATI Inc. reported Q3 2024 results with sales of $1.05 billion and net income of $82.7 million ($0.57 per share). Adjusted earnings were $0.60 per share with adjusted EBITDA of $185.7 million (17.7% of sales). Aerospace & defense represented 62% of Q3 sales. The company faced challenges due to industry-wide slowing of aircraft production and supply chain disruptions. ATI updated its 2024 guidance, reducing adjusted EBITDA forecast to $700M-$710M from previous $720M-$750M. The company announced a new $700 million share repurchase authorization and redeemed its 2025 Convertible Notes.
ATI (NYSE: ATI) has announced the live webcast for its third quarter 2024 earnings conference call scheduled for Tuesday, October 29, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The company plans to publish its Q3 2024 results prior to the call at 6:30 a.m. CT (7:30 a.m. ET). Investors can access the broadcast and accompanying presentation slides on ATImaterials.com by selecting 'Conference Call'. A replay of the conference call will also be available on the company's website.
ATI is a global producer of high-performance materials and solutions for aerospace, defense, electronics, medical, and specialty energy markets. The company focuses on solving challenging problems through materials science and partners with customers to deliver advanced materials for demanding applications.
ATI Inc. (NYSE: ATI) has announced that its President and CEO Kim Fields and EVP and CFO Don Newman will be speaking at the Morgan Stanley 12th Annual Laguna Conference on September 11, 2024, at 3:15 p.m. ET in Dana Point, California. The event will be webcast live, with a link available in the News & Events section of ATI's investor website. An audio replay and full transcript will be provided after the presentation.
ATI is a global producer of high-performance materials for aerospace, defense, electronics, medical, and specialty energy markets. The company focuses on materials science to solve challenging problems, enabling their customers to achieve greater performance in demanding environments.
ATI Inc. (NYSE: ATI) has announced a $700 million share repurchase program authorized by its Board of Directors. The multi-year program allows for open market or private transactions, with timing and amount dependent on market conditions. Simultaneously, ATI is redeeming the remaining $291 million of its 3.5% Senior Convertible Notes due 2025 on September 10, 2024. Noteholders can convert their holdings to ATI common stock at a rate of 64.7178 shares per $1,000 principal until September 9, 2024. CEO Kim Fields stated these actions demonstrate ATI's confidence in long-term financial performance, robust cash position, and commitment to a balanced capital allocation strategy emphasizing de-leveraging and shareholder returns while funding growth.
ATI Inc. reported strong Q2 2024 results, with sales of $1.1 billion, up 5% from Q1 2024. Net income attributable to ATI was $81.9 million, or $0.58 per share, up 26% from Q1 2024. Aerospace & defense represented 62% of Q2 2024 sales, up from 59% in Q1. Adjusted earnings per share were $0.60, and ATI adjusted EBITDA was $182.6 million, or 16.7% of sales. The company's performance was driven by growth in aerospace & defense, which increased 11% sequentially. ATI reaffirmed its full-year outlook and remains confident in meeting its 2024 guidance and 2025/2027 financial targets.
ATI (NYSE: ATI) announced $4 billion in new sales commitments through 2040 at the Farnborough International Airshow, with $2.2 billion to be delivered by 2030. These commitments, primarily for nickel alloys in the jet engine market, reinforce ATI's aerospace leadership and customer trust in securing critical supply.
The new agreements are expected to generate $500 million in revenue for 2025 and $550 million in 2027, with approximately 20% being incremental to ATI's previously announced financial targets. CEO Kim Fields emphasized that these commitments strengthen ATI's position to achieve its financial goals for 2025, 2027, and beyond.
ATI, a global producer of high-performance materials for aerospace, defense, electronics, medical, and specialty energy markets, continues to partner with customers to solve challenging problems through materials science and innovative solutions.
ATI (NYSE: ATI) has scheduled its second quarter 2024 earnings conference call on August 6, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The results will be published an hour earlier at 6:30 a.m. CT (7:30 a.m. ET).
The conference call will be broadcasted live, and accompanying presentation slides will be available on ATImaterials.com. A replay of the conference call will also be accessible on the same site.
ATI is a global producer of high-performance materials, serving aerospace, defense, electronics, medical, and specialty energy markets.
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