Company Overview - Allegheny Technologies (ATI) currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3] - The company has a Zacks Rank of 2 (Buy), which is associated with a history of outperforming the market [4] Price Performance - ATI shares have increased by 25.39% over the past week, significantly outperforming the Zacks Steel - Specialty industry, which rose by 4.7% during the same period [6] - Over the past month, ATI's stock price has surged by 63.93%, compared to the industry's 16.3% [6] - In the last quarter, ATI shares rose by 11.22%, and over the past year, they gained 15.03%, while the S&P 500 experienced declines of -7.56% and a modest increase of 9.65%, respectively [7] Trading Volume - The average 20-day trading volume for ATI is 2,122,049 shares, which serves as a useful indicator of market interest and price movement [8] Earnings Outlook - In the past two months, three earnings estimates for ATI have been revised upwards, while none have been lowered, leading to an increase in the consensus estimate from $2.89 to $2.96 [10] - For the next fiscal year, two estimates have also moved upwards with no downward revisions [10] Conclusion - Considering the strong price performance, positive earnings outlook, and high Momentum Style Score, ATI is positioned as a promising investment opportunity [12]

Core Insights - ATI Inc. reported a profit of $97 million or 67 cents per share for Q1 2025, an increase from $66.1 million or 46 cents in the same quarter last year [1] - Adjusted earnings were 72 cents per share, up 50% from 48 cents year-over-year, exceeding the Zacks Consensus Estimate of 58 cents [1] Financial Performance - Net sales for Q1 2025 reached $1,144.4 million, surpassing the Zacks Consensus Estimate of $1,063.6 million, with a year-over-year increase of 9.7% [2] - High Performance Materials & Components (HPMC) segment sales were $584.1 million, up 10.2% year-over-year, exceeding the Zacks Consensus Estimate of $554.2 million, with segment EBITDA increasing 34.2% to $131 million [2] - Advanced Alloys & Solutions (AA&S) segment recorded sales of $560.3 million, a 9.2% increase from $513 million last year, also surpassing the Zacks Consensus Estimate of $494.9 million, with EBITDA rising 16.1% to $83.4 million [3] Financial Position - Cash and cash equivalents stood at $475.8 million, up from $394.4 million the previous year [4] - Long-term debt decreased by 20.1% to $1,713.3 million compared to the prior year [4] Future Outlook - For Q2 2025, ATI anticipates adjusted EBITDA between $195 million and $205 million and adjusted EPS between 67 cents and 73 cents [5] - Full-year 2025 guidance includes projected adjusted EBITDA of $800 million to $840 million and adjusted EPS ranging from $2.87 to $3.09, with expected adjusted free cash flow between $240 million and $360 million [5]

TORONTO, May 01, 2025 (GLOBE NEWSWIRE) -- Altai Resources Inc. (TSXV: ATI) (“Altai” or the “Company”) announced today that the Board of Directors (the “Board”) has initiated a strategic review process to identify, evaluate, and pursue a range of potential strategic alternatives with the goal of maximizing shareholder value and liquidity (the “Strategic Review”). As part of the Strategic Review, the potential strategic alternatives could include, amongst other things, either individually or in combination, t ...

DALLAS, May 1, 2025 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announces that effective May 1, 2025, its Global Industry Classification Standard (GICS) code has been reclassified to Aerospace and Defense, providing further recognition of the Company's transformation into a world-class A&D supplier. Previously, ATI was categorized as Metals and Mining under the standardized industry classification system administered by S&P Dow Jones Indices and MSCI."This reclassification reaffirms ATI's continued transformation ...

For the quarter ended March 2025, Allegheny Technologies (ATI) reported revenue of $1.14 billion, up 9.7% over the same period last year. EPS came in at $0.72, compared to $0.48 in the year-ago quarter.The reported revenue represents a surprise of +7.60% over the Zacks Consensus Estimate of $1.06 billion. With the consensus EPS estimate being $0.58, the EPS surprise was +24.14%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Core Insights - Allegheny Technologies (ATI) reported quarterly earnings of $0.72 per share, exceeding the Zacks Consensus Estimate of $0.58 per share, and up from $0.48 per share a year ago, representing an earnings surprise of 24.14% [1] - The company posted revenues of $1.14 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.60%, compared to $1.04 billion in the same quarter last year [2] - The stock has lost about 1.2% since the beginning of the year, while the S&P 500 has declined by 5.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $1.13 billion, and for the current fiscal year, it is $2.88 on revenues of $4.58 billion [7] - The estimate revisions trend for Allegheny Technologies is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Steel - Specialty industry, to which Allegheny Technologies belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Metallus, is expected to report a significant decline in earnings, with a projected EPS of $0.11, down 80.4% year-over-year, and revenues expected to be $254.3 million, down 20.9% from the previous year [9][10]

Financial Data and Key Metrics Changes - Revenues grew 10% year over year, exceeding $1,100,000,000 for the quarter [5][19] - Adjusted EBITDA reached $195,000,000, surpassing the top end of guidance by $15,000,000 [5][20] - Adjusted earnings per share came in at $0.72, beating the guidance range of $0.55 to $0.61 [5][20] - Free cash flow usage was $143,000,000, lower than Q1 2024 and modestly favorable to 2025 estimates [23] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) represented 66% of total revenue in Q1, with defense sales growing 11% year over year [17][15] - Commercial jet engine sales grew 35% year over year, accounting for 37% of total Q1 revenue [12][13] - Airframe business represented 18% of Q1 revenue, with strong demand for titanium capabilities [14] - HPMC margins increased by 400 basis points year over year, driven by A&D core strength [21] Market Data and Key Metrics Changes - Industrial markets, representing approximately 20% of total business, are experiencing a wait-and-see posture from some customers [11] - Tariffs announced in 2025 represent approximately $50,000,000 in annual cost exposure prior to offsets, but minimal impact on full year earnings is anticipated [10][11] Company Strategy and Development Direction - The company is focused on high-value A&D applications, with a strategic evolution validated by a reclassification to aerospace and defense [17] - Plans to repurchase up to $250,000,000 in shares in Q2, reflecting confidence in current share price [8][29] - The company is leveraging a diversified global supply chain to manage costs effectively amid trade uncertainties [9][52] Management's Comments on Operating Environment and Future Outlook - Management remains confident in A&D demand, with robust backlogs and no cancellations reported [11][26] - The company anticipates Q2 results to mirror Q1, with growth expected later in the year [25] - Full year adjusted EBITDA guidance is affirmed at $800,000,000 to $840,000,000, with EPS guidance increased to $2.87 to $3.09 per share [25][30] Other Important Information - A new five-year agreement with Airbus worth approximately $1,000,000,000 was signed, significantly increasing participation [87][110] - The company has secured long-term contracts for critical alloys, ensuring supply stability into the next decade [113][116] Q&A Session Summary Question: Can you provide more color on aftermarket or MRO contribution to A&D growth this quarter? - Management noted strong demand from MRO, running at 40% to 50%, with expectations to double revenue from the GTF program in 2025 [36][38] Question: Do you think the U.S. and Ukraine mineral deal could impact ATI's sourcing of feedstock? - Management believes it could be positive in the long term, but not in the near term, as historical partnerships need qualification [44] Question: Can you elaborate on pricing at HPMC? - Pricing for titanium and nickel increased by 6% to 7% year over year, with long-term agreements allowing for price increases [49][50] Question: What offsets are in place for the $50,000,000 tariff impact? - Management highlighted a diversified supply chain, cost management, and contract mechanisms to mitigate tariff impacts [51][52][54] Question: Does the reiterated guide include contingencies for softer sales in industrial markets? - Yes, the guidance includes built-in risks related to industrial ordering patterns [63] Question: Can you discuss the growth of the isothermal forgings business? - The isothermal forgings business has grown substantially, with lead times extending into 2027 and expectations to exceed $1,000,000,000 in revenue this year [95] Question: What is the duration of contracts for sole source alloys? - Contracts for critical alloys extend into the middle of the next decade, with high barriers to entry for competitors [113][116]

Financial Data and Key Metrics Changes - Revenues grew 10% year over year, exceeding $1,100,000,000 for the quarter [6][20] - Adjusted EBITDA reached $195,000,000, surpassing the top end of guidance by $15,000,000 [6][20] - Adjusted earnings per share came in at $0.72, beating the guidance range of $0.55 to $0.61 [6][20] - Free cash flow usage was $143,000,000, lower than Q1 2024 and favorable to 2025 estimates [24] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) represented 66% of total revenue in Q1, with defense sales growing 11% year over year [18][16] - Commercial jet engine sales grew 35% year over year, accounting for 37% of total Q1 revenue [13][14] - Airframe business represented 18% of Q1 revenue, with strong demand for titanium capabilities [15] - HPMC margins increased by 400 basis points year over year, driven by A&D core strength [21][22] - AANS margins were down 140 basis points sequentially but up 90 basis points year over year [23] Market Data and Key Metrics Changes - Industrial markets, representing approximately 20% of total business, are seeing some customers adopt a wait-and-see approach [12] - Tariffs announced in 2025 represent approximately $50,000,000 in annual cost exposure prior to offsets [11] Company Strategy and Development Direction - The company is focused on high-value A&D applications, with a strategic evolution validated by a reclassification to aerospace and defense [18] - Plans to repurchase up to $250,000,000 in shares in Q2, reflecting confidence in current share price [9][31] - The company is leveraging a diversified global supply chain to manage costs effectively amid trade uncertainties [10][54] Management's Comments on Operating Environment and Future Outlook - Management remains confident in A&D demand, with robust backlogs and no cancellations in engine material orders [12][57] - The company anticipates Q2 results to mirror Q1, with a full-year adjusted EBITDA guidance of $800,000,000 to $840,000,000 [26][29] - Management acknowledges potential risks in industrial markets but expects A&D sales to grow 12% to 14% in 2025 [28][29] Other Important Information - A new five-year agreement with Airbus worth approximately $1,000,000,000 was signed, significantly increasing participation [87][114] - The company has secured long-term contracts for critical alloys, ensuring supply stability into the next decade [116][120] Q&A Session Summary Question: Contribution of aftermarket or MRO to A&D growth - Management noted strong MRO demand running at 40% to 50%, with expectations to double revenue from GTF work in 2025 [39][40] Question: Impact of U.S.-Ukraine mineral deal on sourcing - Management indicated potential positive long-term impacts on titanium sponge supply but noted no immediate effects [44][46] Question: Pricing trends in HPMC - Pricing for titanium and nickel increased by 6% to 7% year over year, with long-term agreements allowing for sustained price increases [51][52] Question: Tariff impact and offsets - Management discussed various levers to manage tariff impacts, including a diversified supply chain and contract mechanisms to pass through costs [53][55] Question: Margin expectations amid industrial market declines - Management expects AANS margins to remain in the mid-teens despite potential declines in industrial sales [103][104] Question: Financial impact of the new labor contract - The labor contract was in line with expectations and is built into guidance, ensuring support for aerospace customers [105][106] Question: Size of the new Airbus contract relative to past business - The new contract is expected to double participation with Airbus compared to previous years [114][115] Question: Duration and exclusivity of sole source alloys - Contracts for critical alloys extend into the middle of the next decade, with high barriers to entry for potential competitors [116][120]

Financial Performance - Q1 2025 sales reached $1.14 billion, a 10% increase year-over-year, driven by a 23% rise in aerospace & defense sales[6] - Net income attributable to ATI was $97 million, up 47% year-over-year, with earnings per share of $0.67 compared to $0.46 in Q1 2024[6] - Adjusted EBITDA for Q1 2025 was $195 million, a 29% increase year-over-year, representing 17.0% of sales[6] - Total sales for the fiscal quarter ended March 30, 2025, were $1,144.4 million, a decrease of 2.8% from $1,172.7 million in the previous quarter and an increase of 9.7% from $1,042.9 million in the same quarter last year[20] - Gross profit for the quarter was $235.8 million, resulting in a gross margin of 20.6%, compared to $248.6 million and 21.2% in the previous quarter[20] - Net income attributable to ATI for the quarter was $97.0 million, down 29.3% from $137.1 million in the previous quarter, but up 46.9% from $66.1 million in the same quarter last year[20] - Adjusted net income attributable to ATI for the fiscal quarter ended March 30, 2025, was $104.4 million, with an Adjusted EPS of $0.72, compared to $114.6 million and $0.79 for the previous quarter[32] - Adjusted EBITDA for the fiscal quarter ended March 30, 2025, was $194.6 million, a decrease from $209.8 million in the previous quarter[33] Segment Performance - Aerospace and defense sales accounted for 66% of total Q1 2025 sales, amounting to $754 million[2] - HPMC segment sales were $584.1 million, with an EBITDA margin of 22.4%[13] - AA&S segment sales increased to $560.3 million, with an EBITDA margin of 14.9%[13] - High Performance Materials & Components segment sales were $584.1 million, down from $634.2 million in the previous quarter, while Advanced Alloys & Solutions segment sales increased to $560.3 million from $538.5 million[21] - Total segment EBITDA for the quarter was $214.4 million, slightly down from $214.8 million in the previous quarter, with High Performance Materials & Components contributing $131.0 million[21] Cash Flow and Working Capital - The company reported a cash used in operating activities of $92.5 million for the quarter, compared to $98.8 million in the same quarter last year[24] - Cash used in operating activities for the quarter ended March 30, 2025, was $(92.5) million, compared to $(98.8) million for the same quarter in the previous year[38] - Adjusted free cash flow for the quarter ended March 30, 2025, was $(143.1) million, an improvement from $(162.6) million in the same quarter last year[38] - Managed working capital as a percentage of annualized sales was 35.9% at the end of Q1 2025, up from 30.9% in Q4 2024[16] - Managed working capital as a percentage of annualized sales increased to 35.9% for the quarter ended March 30, 2025, up from 30.9% in the previous quarter[42] Equity and Liabilities - Total liabilities decreased to $3,201.7 million from $3,275.4 million in the previous quarter, while total equity increased to $1,982.3 million from $1,955.2 million[23] - The company repurchased $70 million of common stock in Q1 2025, retiring approximately 1.2 million shares[16] Guidance and Projections - Guidance for Q2 2025 includes adjusted EBITDA of $195M - $205M and adjusted earnings per share of $0.67 - $0.73[4] - Capital expenditures for the full year 2025 are projected to be between $260 million and $280 million[4] Other Financial Activities - The company reported a restructuring and other charges of $5.6 million for the quarter ended March 30, 2025[33] - The company experienced a loss of $3.7 million on the sale of certain non-core operations during the quarter ended March 30, 2025[34] - The company’s accounts receivable increased to $827.0 million as of March 30, 2025, from $709.2 million as of December 29, 2024[42] - The company’s inventory rose to $1,396.9 million as of March 30, 2025, compared to $1,353.0 million as of December 29, 2024[42]

Proven to perform anywhere. First Quarter 2025 Earnings May 1, 2025 ATI Proprietary and Confidential ©2025 ATI. All rights reserved. 1 Forward Looking Statements This presentation contains forward-looking statements. Actual results may differ materially from results anticipated in the forward-looking statements due to various known and unknown risks, many of which we are unable to predict or control. These and additional risk factors are described from time to time in the Company's filings with the Securiti ...