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 ...

Allegheny Technologies (ATI) has been on a downward spiral lately with significant selling pressure. After declining 11.8% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whe ...

ATI Inc. (NYSE:ATI) Q4 2023 Earnings Conference Call February 1, 2024 10:30 AM ET Company Participants Dave Weston - Vice President of Investor Relations Bob Wetherbee - Chairman & Chief Executive Officer Don Newman - Executive Vice President & Chief Financial Officer Tom Wright - Vice President of Financial Planning & Interim Head of Investor Relations Conference Call Participants Seth Seifman - JPMorgan Gautam Khanna - TD Cowen Richard Safran - Seaport Research Partners Timna Tanners - Wolfe Research Mich ...

Proven to per form anywhere. Fourth Quarter 2023 Earnings February 1, 2024 ATI Proprietary and Confidential ©2024 ATI. All rights reserved. 1 Forward Looking Statements ...

For the quarter ended December 2023, Allegheny Technologies (ATI) reported revenue of $1.06 billion, up 5.3% over the same period last year. EPS came in at $0.64, compared to $0.53 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.03 billion, representing a surprise of +3.30%. The company delivered an EPS surprise of +3.23%, with the consensus EPS estimate being $0.62.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Allegheny Technologies (ATI) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.23%. A quarter ago, it was expected that this maker of steel and specialty metals would post earnings of $0.52 per share when it actually produced earnings of $0.55, delivering a surprise of 5.77%.Over the ...