ATI Q3 2022 Earnings Report
Key Takeaways
ATI Inc. reported strong third quarter 2022 results, with sales of $1.03 billion, up 8% over Q2 2022 and 42% over Q3 2021. Net income attributable to ATI was $61.1 million, or $0.42 per share, including a $19.9 million charge for settled litigation. Adjusted EPS was $0.53 and adjusted EBITDA was $141.1 million, or 13.7% of sales.
Sales increased 8% over Q2 2022, and 42% over Q3 2021, reaching $1.03 billion.
Net income attributable to ATI was $61.1 million, or $0.42 per share, including a $19.9 million litigation settlement charge.
Adjusted net income attributable to ATI was $77.4 million, with adjusted EPS of $0.53.
ATI adjusted EBITDA was $141.1 million, representing 13.7% of sales.
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ATI Revenue by Segment
Forward Guidance
ATI expects ongoing strength in key markets, particularly aerospace & defense, to drive profitable revenue growth.
Positive Outlook
- The deliberate actions we have taken to transform our sales mix and operations have continued to reduce volatility and make us more resilient against potential macroeconomic headwinds.
- This gives ATI stability well into the future.
- We expect ongoing strength in our key markets, particularly aerospace & defense, to drive profitable revenue growth.
- Our recent results demonstrate the progress we are making toward our long-term financial targets, delivering value to our shareholders.
Challenges Ahead
- there are uncertainties that may impact our growth rates in the near-term.