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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
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.