ATI Inc. (ATI) stated that its board of directors has authorized the repurchase of up to $700 million in outstanding common shares, which the company anticipates would support a multi-year share buyback program. Repurchases under the program can be made on the open market or in privately negotiated deals, with the amount and timing of buybacks determined by market circumstances and corporate needs. The stock repurchase program does not require the company to buy back a certain number of shares, and ATI’s bo ...

PITTSBURGH, Sept. 3, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announced that its Board of Directors has authorized the repurchase of up to $700 million of its outstanding common stock, which the Company currently expects will support a multi-year share repurchase program. Repurchases under the program may be made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs. Open market repurchases will be structured ...

ATI Inc. (ATI) recorded a profit of $81.9 million or 58 cents per share in the second quarter of 2024 compared with the year-ago quarter's profit of $90.4 million or 62 cents.ATI posted adjusted earnings of 60 cents, down 13% from the year-ago quarter’s figure of 69 cents. Adjusted earnings exceeded the Zacks Consensus Estimate of 58 cents.The company’s net sales in the first quarter were $1,095.3 million, missing the Zacks Consensus Estimate of $1,104 million. Net sales were up around 5% year over year. AT ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common stock, par value $0.10 ATI New York Stock Exchange Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commis ...

For the quarter ended June 2024, Allegheny Technologies (ATI) reported revenue of $1.1 billion, up 4.7% over the same period last year. EPS came in at $0.60, compared to $0.59 in the year-ago quarter.The reported revenue represents a surprise of -0.79% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $0.58, the EPS surprise was +3.45%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Allegheny Technologies (ATI) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.45%. A quarter ago, it was expected that this maker of steel and specialty metals would post earnings of $0.41 per share when it actually produced earnings of $0.48, delivering a surprise of 17.07%.Over the ...

NEWS RELEASE | --- | --- | |-------------------------------|-------| | | | | | | | Investor Contact: | | | David Weston | | | 412-394-2908 | | | david.weston@ATImaterials.com | | | --- | --- | |------------------------------------|-------| | | | | Media Contact: Natalie Gillespie | | | 412-394-2850 | | | natalie.gillespie@ATImaterials.com | | ATI Inc. Corporate Headquarters 2021 McKinney Avenue Dallas, TX 75201 U.S.A. www.ATImaterials.com ATI Announces Second Quarter 2024 Results Strong performance in Aeros ...

Core Viewpoint - ATI Inc. reported strong performance in Q2 2024, driven by growth in the Aerospace & Defense sector, with sales reaching $1.1 billion, a 5% increase from Q1 2024, and net income attributable to ATI of $81.9 million, up 26% from the previous quarter [1][2][4]. Financial Performance - Q2 2024 sales were $1,095.3 million, up 5% sequentially from $1,042.9 million in Q1 2024 and also up 5% year-over-year from $1,046.0 million in Q2 2023 [2]. - Net income attributable to ATI for Q2 2024 was $81.9 million, or $0.58 per share, representing a 24% increase from $66.1 million in Q1 2024 but a 9% decrease from $90.4 million in Q2 2023 [2][3]. - Adjusted net income attributable to ATI was $86.0 million, or $0.60 per share, up 26% from $68.4 million in Q1 2024 and down 15% from $100.6 million in Q2 2023 [2][3][25]. - Adjusted EBITDA for Q2 2024 was $182.6 million, or 16.7% of sales, reflecting a 21% increase from $151.0 million in Q1 2024 and an 11% increase from $164.2 million in Q2 2023 [2][3]. Segment Performance - Aerospace & Defense accounted for 62% of Q2 2024 sales, up from 59% in Q1 2024, with sales increasing sequentially by 11% [1][4][19]. - High Performance Materials & Components (HPMC) segment sales were $562.0 million, a 6% increase from Q1 2024, primarily due to an 8% increase in aerospace & defense sales [5]. - Advanced Alloys & Solutions (AA&S) segment sales were $533.3 million, a 4% increase from Q1 2024, driven by increased aerospace & defense and specialty energy sales [6]. Corporate and Cash Management - Corporate expenses in Q2 2024 were $19.4 million, up from $17.1 million in Q1 2024, attributed to higher incentive compensation costs [8]. - Cash provided by operating activities was $101 million in Q2 2024, with cash on hand at June 30, 2024, totaling $426 million [8][18]. Outlook - The company remains confident in its ability to meet its 2024 guidance, with new sales commitments of $4 billion announced at the Farnborough International Airshow, predominantly for nickel alloys [9].

The most recent trading session ended with Allegheny Technologies (ATI) standing at $64.86, reflecting a -1.04% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.Shares of the maker of steel and specialty metals have appreciated by 18.2% over the course of the past month, outperforming the Basic Materials sector's loss of 1.43% and the S&P 500's loss of 0.21%.Market participants w ...

Allegheny Technologies (ATI) closed at $65.54 in the latest trading session, marking a +1.96% move from the prior day. The stock's change was more than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.The the stock of maker of steel and specialty metals has risen by 13.73% in the past month, leading the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 1.16%.The upcoming earnings release of Alleghen ...