ATI Q2 2024 Earnings Report
Key Takeaways
ATI Inc. reported a strong second quarter in 2024, with sales reaching $1.1 billion and net income attributable to ATI at $81.9 million, or $0.58 per share. The Aerospace & Defense sector was a key driver, representing 62% of Q2 sales, up from 59% in Q1 2024. Adjusted EBITDA was $182.6 million, or 16.7% of sales.
Q2 2024 sales reached $1.1 billion, a 5% increase from Q1 2024.
Net income attributable to ATI for Q2 2024 was $81.9 million, or $0.58 per share, up 26% from Q1 2024.
Aerospace & defense accounted for 62% of Q2 2024 sales, increasing from 59% in Q1 2024.
ATI adjusted EBITDA for Q2 2024 was $182.6 million, representing 16.7% of sales.
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ATI Revenue by Segment
Forward Guidance
ATI reaffirmed its full year outlook and remains confident in its ability to deliver its 2025 and 2027 financial targets. New sales commitments of $4 billion from the Farnborough International Airshow include $550 million of revenue for 2027.
Positive Outlook
- Ability to capitalize on market opportunities allows us to drive increased margins and generate strong operating cash flow
- ATI's capabilities, long-term agreements and backlog positions us to reaffirm our full year outlook
- Clear strategy of leading in aerospace & defense and 'aero-like' markets puts us on track us to meet our 2024 guidance
- Continue to be confident in our ability to deliver our 2025 and 2027 financial targets
- Recently announced new sales commitments of $4 billion from the Farnborough International Airshow, which are predominantly for nickel alloys, include $550 million of revenue for 2027.