Welcome to our dedicated page for ATI news (Ticker: ATI), a resource for investors and traders seeking the latest updates and insights on ATI stock.
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.
Allegheny Technologies Incorporated (NYSE: ATI) has successfully divested its Sheffield, UK operation to Mutares SE & Co. KGaA, completing the agreement initially announced in March 2022. The Sheffield operation, which generated $36 million in sales in 2021, primarily served the oil and gas markets, conflicting with ATI's strategy to focus on aerospace and defense. The divestiture comes with a non-cash charge of approximately $110 million, attributed to a UK pension plan transfer and currency translation losses. This strategic move aims to optimize ATI's cost structure and enhance operational focus.
Allegheny Technologies (ATI) reported Q1 2022 sales of $834.1 million, a 9% increase from Q4 2021 and a 20% rise year-over-year. Net income reached $30.9 million, or $0.23 per share. Adjusted net income was $56.7 million, with an adjusted EPS of $0.40. The company repurchased 3.5 million shares for $90 million. A $25.1 million non-cash loss is anticipated from the Sheffield operations sale. Despite challenges, ATI expects continued growth in key markets.
Allegheny Technologies Incorporated (NYSE: ATI) will host a live conference call on May 4, 2022, at 10:30 a.m. ET, following its first quarter results release. Investors can access the call via ATImetals.com, where presentation slides will also be available. A replay of the call will be accessible on the website. ATI is a $3 billion global producer specializing in high-performance materials for aerospace, defense, electronics, and other critical sectors, focusing on innovative solutions to meet complex challenges.
ATI (NYSE: ATI) has announced the termination of its joint venture, Uniti, LLC, with Russian company VSMPO-AVISMA. This partnership focused on marketing commercially pure titanium products primarily for industrial markets, excluding aerospace, defense, and medical sectors. The winding-up of the joint venture is expected to be completed by the end of 2022. Kevin Kramer, ATI's Chief Commercial & Marketing Officer, expressed gratitude towards the nearly 20-year collaboration with VSMPO-AVISMA.
Allegheny Technologies Incorporated (NYSE: ATI) held an investor event on February 17, 2022, outlining its strategic goals and long-term financial targets. The company anticipates revenue growth surpassing key market rates, with adjusted EBITDA margins expanding due to a recovering market and improved product mix. ATI expects to achieve revenue growth of 9% to 11% annually through 2025, with free cash flow conversion above 90% from adjusted net income. Leadership aims to enhance shareholder value through increased cash conversion and return on invested capital.
Allegheny Technologies Incorporated (NYSE: ATI) has authorized a stock repurchase program worth $150 million. The repurchases will be made in the open market or through privately negotiated transactions, depending on market conditions. This program reflects the company's confidence in its future financial performance, according to CFO Don P. Newman. The initiative is part of a balanced capital allocation strategy aimed at funding growth and enhancing shareholder returns.
Allegheny Technologies (NYSE: ATI) reported Q4 2021 results with sales of $765.4 million but a net loss of $29.8 million, or $(0.23) per share. Adjusted earnings per share rose to $0.25 with an adjusted EBITDA of $94.7 million, representing 12.4% of sales. The High Performance Materials segment saw a 5% sales increase from Q3 2021, while the Advanced Alloys & Solutions segment sales increased by 6% sequentially. The company anticipates strong revenue growth in Q1 2022 due to ongoing aerospace market recovery and transformation initiatives.
Allegheny Technologies (NYSE: ATI) will hold a virtual Investor Day on February 17, 2022, from 10:00 AM to 1:00 PM ET. The event will cover ATI's strategy, markets, operations, and long-term financial outlook, followed by a Q&A session. Key presentations will be delivered by executives, including Bob Wetherbee (CEO) and Don Newman (CFO). Investors can access the live webcast and replay on the ATI Investor Relations website. ATI focuses on solving challenges through innovative materials science.
Allegheny Technologies Incorporated (NYSE: ATI) will host a live conference call on February 2, 2022, at 10:30 a.m. ET, to discuss its fourth quarter and full-year results. This call follows the company's financial results release and will be accessible via the company's website, ATImetals.com. Presentation slides will accompany the broadcast, which will also be available for replay afterwards.
Allegheny Technologies Incorporated (NYSE: ATI) reported Q3 2021 results, showing sales of $726 million and net income of $48.7 million, or $0.35 per share. Adjusted net income was $6.2 million, or $0.05 per share, down from a net loss of $49.2 million in Q2 2021. Key segments, High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S), reported operating recoveries post-strike. Despite challenges, including a $64.9 million pretax gain from medical benefits and positive EBITDA trends, the outlook remains cautious due to ongoing transformations.
FAQ
What is the current stock price of ATI (ATI)?
What is the market cap of ATI (ATI)?
What does ATI Inc. specialize in?
Which markets does ATI serve?
How did ATI perform financially in the third quarter of 2023?
What are ATI’s future financial projections?
Who will be the new CEO of ATI?
What are the key segments of ATI’s business?
What recent achievements has ATI reported?
How does ATI support innovation in materials science?
Where does ATI operate geographically?
How can investors access ATI’s financial updates?
