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Jun 30, 2022
ATI Q2 2022 Earnings Report
ATI's financial performance improved due to strong jet engine sales growth and operating discipline.
Key Takeaways
ATI Inc. reported second quarter 2022 results with sales of $959.5 million and a net loss attributable to ATI of $38.0 million, or $(0.31) per share. These results include a $115.9 million non-cash loss from the sale of Sheffield, UK operations. Adjusted EPS was $0.54, and Adjusted EBITDA was $143.1 million, representing 15% of sales.
Sales reached $959.5 million, a 15% increase from Q1 2022, marking the highest quarterly total since Q4 2019.
Net loss attributable to ATI was $38.0 million, or $(0.31) per share, which includes a $115.9 million non-cash loss from the sale of Sheffield, UK operations.
Adjusted net income attributable to ATI was $76.7 million, with an adjusted EPS of $0.54.
Adjusted EBITDA reached $143.1 million, representing 15% of sales.
Revenue by Segment
Forward Guidance
Looking ahead to the third quarter, ATI expects ongoing strength in key markets to drive profitable revenue growth. Increased revenues are expected to offset traditionally lower seasonal volumes, routine maintenance outages, and the absence of financial benefits from government programs and tariff refunds.
Positive Outlook
- Ongoing strength in key markets will drive profitable revenue growth.
- Increased revenues expected in Q3.
- Focus on long-term value creation through sustainable revenue.
- Focus on long-term value creation through margin growth.
- Focus on long-term value creation through free cash flow growth.
Challenges Ahead
- Traditionally lower seasonal volumes in Q3.
- Routine maintenance outages expected in Q3.
- No financial benefits from government programs in Q3.
- No tariff refunds in Q3.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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