ATI Q3 2024 Earnings Report
Key Takeaways
ATI Inc. reported third quarter 2024 results with sales of $1.05 billion and net income attributable to ATI of $82.7 million, or $0.57 per share. The results reflected year-over-year growth in sales and EBITDA, but fell short of expectations due to uncertainty across the aerospace customer base and unplanned outages. The company is actively addressing these challenges and focusing on improved performance for the remainder of 2024 and beyond.
Q3 2024 sales were $1.05 billion.
Q3 2024 net income attributable to ATI was $82.7 million, or $0.57 per share.
Aerospace & defense represented 62% of Q3 2024 sales.
ATI adjusted EBITDA was $185.7 million, or 17.7% of sales, up 100 basis points sequentially.
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ATI Revenue by Segment
Forward Guidance
The company expects to continue to see uncertainty with its most critical customers through the remainder of 2024 and first part of 2025. The company is updating its full year 2024 guidance.
Positive Outlook
- Demand in end markets remains very strong
- Strategy of leading in aerospace & defense and 'aero-like' markets will deliver growth
- Strategy of leading in aerospace & defense and 'aero-like' markets will deliver continued margin expansion
- Remains committed to creating lasting shareholder value