The market expects Allegheny Technologies (ATI) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be r ...

ATI Inc. (ATI) recently held an event with government and community leaders to mark the completion of its expansion at Vandergrift Operations, the most advanced materials finishing operations of its kind.The Vandergrift expansion is critical to ATI's transformation of Specialty Rolled Products into a market leader in high-quality titanium and nickel-based alloys. Consolidating production from five other ATI locations resulted in a more competitive flow path at Vandergrift, which concentrated on boosting the ...

Vandergrift expansion significant to Specialty Rolled Products transformation VANDERGRIFT, Pa., April 11, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) celebrated completion of its expansion at Vandergrift Operations – the most advanced materials finishing operations of its kind – at an event attended by government and community leaders. The Vandergrift expansion is significant to ATI's transformation of Specialty Rolled Products to be a leader in high quality titanium and nickel-based alloys. Consolidating pro ...

Senator Ted Budd commemorated event at ATI in Bakers, North CarolinaBAKERS, N.C., March 19, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) celebrated the commissioning of its state-of-the-art 12,500-ton billet forging press critical to production of titanium for aerospace and defense. The Bakers South II press, known as BSOII, came online in Q1-2024 to match ATI's increased titanium melt capacity, delivering increased capability for the manufacture of high-performance, challenging-to-make novel alloys. Joinin ...

DALLAS, March 14, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) has named Vaishali Bhatia Senior Vice President, General Counsel and Chief Compliance Officer, effective March 20, 2024. She'll lead all aspects of the legal function for the aerospace and defense company—including corporate governance, compliance, corporate social responsibility strategies and reporting, and risk management—and collaborate closely with business teams to provide risk-based legal partnership. Bhatia reports to ATI Board Chair and CE ...

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Velo3D, Inc. (NYSE: VLD), today announced Bechtel Plant Machinery Inc. (BPMI) has selected a fully integrated metal additive manufacturing solution from the company to produce parts for the U.S. Naval Nuclear Propulsion Program. The Sapphire XC large format printer, calibrated for stainless steel 415, will be operated by ATI (NYSE: ATI) at its new additive manufacturing facility outside Fort Lauderdale, Florida. Earlier this year, BPMI awarded a contract to ATI to sup ...

As CEO, Fields will succeed Robert S. Wetherbee, who will become Executive Chairman. Wetherbee was named President and CEO in 2018 and became Board Chair in 2020. Under Wetherbee's leadership, ATI transformed to become an aerospace and defense leader, growing share and creating value for customers and shareholders. "ATI is well-positioned, on a clear path to $5 billion in revenue and $1 billion in EBITDA by 2027. We have the capabilities, and the team is aligned to deliver," said Wetherbee. "Kim is ready to ...

Industry Cyclicality and Demand - The cyclical nature of the industries served by the company leads to fluctuating demand for its products, impacting future profitability[38] - A significant portion of sales is derived from the commercial aerospace industry, which is subject to cyclical trends influenced by economic conditions and consumer demand for air travel[39] Competition and Pricing - The company has experienced reduced prices for many products due to intense competition and excess manufacturing capacity, which may adversely affect revenues and operating results[41] Supply Chain and Raw Materials - The company relies heavily on third-party suppliers for critical raw materials, which are subject to price volatility and availability issues, potentially impacting production and costs[43] - The ongoing conflict between Russia and Ukraine has introduced significant market disruptions, including volatility in commodity prices and supply chain interruptions[44] Labor and Employment - Approximately 7,300 employees are active, with 35% covered by collective bargaining agreements, which may lead to labor disputes affecting production[49] Cybersecurity and Data Integrity - The company faces risks related to cybersecurity threats, which could compromise the integrity of its data and operational capabilities[53] Environmental Risks and Sustainability - The physical impacts of climate change and regulatory efforts to transition to a lower-carbon economy present both risks and opportunities for the company[54] - The company aims to enhance environmental sustainability by reducing energy intensity, freshwater intake intensity, and greenhouse gas emissions, but faces risks from evolving regulations that could increase operating costs[56] - The company is currently involved in the investigation and remediation of several sites, with reserves for environmental matters totaling approximately $13 million as of December 31, 2023[57] - The company has been identified as a potentially responsible party at 43 sites under federal Superfund laws, with potential loss exposure on seven sites considered material[57] - The company may face reputational risks if it fails to meet environmental sustainability goals or adapt to changing customer expectations regarding climate change[56] - The company is subject to various domestic and international environmental laws, which may result in substantial cleanup costs and fines for non-compliance[57] Manufacturing and Operational Risks - Disruptions to manufacturing processes due to equipment malfunctions or supply chain interruptions could adversely impact the company's ability to fulfill orders and affect financial performance[58] - The company intends to pursue strategic capital projects to enhance operational capabilities, but faces risks related to cost overruns and unanticipated delays[61] Financial Risks and Indebtedness - The company is exposed to risks associated with its indebtedness, including variable interest rates and restrictive covenants that could limit operational flexibility[68] - As of December 31, 2023, the company's total consolidated indebtedness was approximately $2.2 billion, with an additional borrowing capacity of approximately $530 million under its revolving credit facility[69] - The company’s substantial indebtedness may limit its ability to borrow additional funds for working capital, capital expenditures, and acquisitions[70] Insurance and Coverage - The company has maintained various forms of insurance, but may face increased costs and limitations in coverage that could adversely affect financial results[63] Commodity Price Exposure - For fiscal year 2023, the company used approximately 70 million pounds of nickel, indicating that a hypothetical $1.00 per pound increase in nickel prices would result in increased costs of approximately $70 million[179] - The effects of natural gas hedging activity increased the cost of sales by $7.5 million for the year ended December 31, 2023[178] - The company had an unrealized pre-tax loss of $7.5 million related to its outstanding raw material hedges, primarily for nickel, as of December 31, 2023[180] - At December 31, 2023, the company hedged approximately 75% of its annual forecasted domestic requirements for natural gas for fiscal year 2024, with a net mark-to-market valuation of outstanding natural gas hedges showing an unrealized pre-tax loss of $6.6 million[178] Interest Rate Exposure - The company’s exposure to volatility in interest rates is currently not material, as nearly all of its debt is at fixed interest rates[176] - The company has a $50 million floating-for-fixed interest rate swap, converting a portion of the ABL Term Loan to a 4.21% fixed rate, maturing in June 2024[177] Speculative Guidance - The company’s guidance and future targets are inherently speculative and subject to significant uncertainties, with actual results likely differing materially from expectations[74]

DALLAS, Feb. 7, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) Chief Financial Officer Don Newman will speak at the Cowen 45th Annual Aerospace & Defense Conference in Arlington, Virginia, on February 14, 2024 at 10:45 a.m. ET.  The link to the fireside chat is available at the News & Events section of www.ATImaterials.com/investors. An audio replay and full transcript of the event will be available following the presentation. ATI: Proven to Perform.ATI (NYSE: ATI) is a global producer of high performance materi ...

ATI Inc. (ATI) recorded a fourth-quarter 2023 profit of $145.7 million or 99 cents per share against the year-ago quarter's $193 million or $1.30.ATI posted adjusted earnings of 64 cents per share, up 2% from the year-ago quarter figure of 63 cents. Adjusted earnings exceeded the Zacks Consensus Estimate of 62 cents.The company’s net sales in the fourth quarter were $1,064 million, exceeding the Zacks Consensus Estimate of $1,030 million. Net sales increased around 5% from $1,010.4 million in the prior-year ...