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Sep 30, 2020
ATI Q3 2020 Earnings Report
ATI reported Q3 2020 results with sales of $598 million and a net loss attributable to ATI of $50.1 million, or $(0.40) per share.
Key Takeaways
Allegheny Technologies Incorporated reported third quarter 2020 results with sales of $598 million and a net loss attributable to ATI of $50.1 million, or $(0.40) per share. Adjusted net loss was $47.8 million, or ($0.38) per share. Adjusted EBITDA was $16.6 million, or 2.8% of sales.
Sales of $598 million reflecting challenged market conditions in commercial aerospace
Net loss attributable to ATI of $50.1 million, or $(0.40) per share
Adjusted EBITDA of $16.6 million, or 2.8% of sales
$572 million of cash at September 30, approximately $950 million of total liquidity
ATI
ATI
ATI Revenue by Segment
Revenue by Segment
High Performance Materials & Components Revenue
CapyFin.com Forward Guidance
We expect fourth quarter results to be negatively affected by the ongoing pandemic and its outsized impact on commercial aerospace, our largest end-market.
Positive Outlook
- early signs of stabilization in our order books
- expect modest improvements in commercial aerospace in 2021, starting with our jet engine materials and components in the second half of the year.
- We continue to proactively seek opportunities to make ATI a more streamlined and profitable aerospace and defense supplier
- emerging stronger as the aerospace industry recovers.
Challenges Ahead
- fourth quarter results to be negatively affected by the ongoing pandemic
- outsized impact on commercial aerospace, our largest end-market
- We are working diligently to match our cost structure and inventories to demand.