Financial Data and Key Metrics Changes - Adjusted earnings per share (EPS) for Q3 2023 was $0.55, outperforming the midpoint of previous guidance [12][13] - Total adjusted EBITDA margin increased, marking the fifth consecutive quarter of revenue above $1 billion [13] - Full year EPS guidance tightened to a range of $2.20 to $2.30 per share, with Q4 EPS expected at $0.62, the highest quarterly result for 2023 [18] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) sales reached 61% of total sales in Q3, up from 58% in Q2, with airframe materials shipments surpassing $200 million, a 50% increase year-over-year [5][13] - High-Performance Materials and Components (HPMC) segment's EBITDA margins hit 21.5%, with A&D content increasing to 85% [8][13] - Advanced Alloys & Solutions (AA&S) segment's EBITDA margins were at 10.4%, impacted by seasonal outages, but expected to improve in Q4 [14] Market Data and Key Metrics Changes - Total ATI titanium sales increased approximately 75% year-over-year, driven by strong demand and customer commitments [7] - Industrial demand softened due to transitory conditions, prompting operational adjustments to align cost structures [10] Company Strategy and Development Direction - Company is focused on capitalizing on strong A&D market demand, with expectations for continued growth in the coming years [4][20] - Transformation efforts are aimed at increasing profitability and optimizing operations, with a target for HPMC margins in the low to mid-20% range by 2025 [8][13] - Recent pension actions significantly derisk the balance sheet and enhance cash flow generation capabilities [11][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained momentum and growth trajectory, with long-term agreements extending into the back half of the decade [20] - The company is optimistic about airframe growth, projecting double-digit growth rates based on order activity [67] - Management acknowledged potential recessionary risks but emphasized that only a small portion of the AA&S segment is affected [50] Other Important Information - The company announced a significant reduction in qualified pension obligations by 85% through annuitization, which is expected to lower annual pension expenses by over $45 million [11][16] - Cash balance exceeded $400 million, with plans for continued share buybacks and capital deployment strategies [17] Q&A Session Summary Question: Clarification on AA&S outlook for Q4 - Management clarified that while sales trends are stabilizing, margins in AA&S are expected to improve due to the absence of major outage costs and benefits from pension actions [22][23] Question: Incremental opportunities in the Forged disk business - Management confirmed ongoing collaboration with engine manufacturers to support their needs, indicating potential for increased share in the Forged disk business [25][26] Question: Comparison of 2022 EPS to 2023 guidance - Management indicated that adjusting for nonrecurring items, the 2022 EPS would be approximately $1.50, compared to the midpoint of 2023 guidance at $2.25, reflecting a 50% year-over-year increase [29][30] Question: Trends in the transactional part of the business - Management noted that the transactional business is performing well and is margin accretive, with a focus on high-value alloys [32][34] Question: Pricing and mix improvement expectations - Management expects both pricing and mix improvements to drive margin growth in 2024 and beyond, with strong demand in A&D markets [36][39] Question: Outlook for oil and gas and Stall business - Management believes the oil and gas sector is at the bottom and anticipates recovery in Q2 next year, while signs of improvement in the Stall business are emerging [41][42] Question: Operational challenges in HPMC - Management acknowledged a transformer outage at the Lockport facility but emphasized that the impact was managed effectively, with no significant financial consequences in Q3 [59][62]

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 September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to C ...

Financial Data and Key Metrics Changes - ATI reported adjusted earnings per share of $0.59, at the top end of guidance, reflecting a 9% year-over-year revenue increase to $1.05 billion [15][7] - Adjusted EBITDA margin increased to 14.3%, a 150 basis point sequential improvement, with overall adjusted EBITDA rising by 13% from the previous quarter [10][15] - The order backlog grew over 20% year-to-date, reaching $3.5 billion at the end of June [4][9] Business Line Data and Key Metrics Changes - Aerospace and Defense (A&D) sales increased by 5% quarter-over-quarter and 39% year-over-year, now accounting for 58% of total revenue, up from 46% a year ago [3][4][9] - High Performance Materials & Components (HPMC) segment sales grew 12% quarter-over-quarter and 33% year-over-year, with EBITDA margins increasing by 350 basis points to 20.5% [5][10] - Advanced Alloys and Solutions (AA&S) segment experienced a sequential sales decline due to softness in general industrial markets [11][15] Market Data and Key Metrics Changes - The Asian Precision Rolled Strip business is stabilizing but not yet recovering, with continued late deliveries impacting performance [7][11] - Demand for materials in military applications remains strong, particularly for brown vehicles, rotorcraft, and naval applications [3][4] Company Strategy and Development Direction - The company is focused on increasing its A&D content to 65% or higher of total business, projecting it will exceed 60% by year-end [9][10] - ATI is investing in expanding titanium melt capacity, with a 35% increase projected by the end of 2024 [20][21] - The strategic transformation aims to reduce volatility in quarterly results and stabilize performance [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of markets and sustained demand, with a strong backlog and operational improvements expected to drive future growth [18][22] - The company anticipates continued robust A&D demand and operational improvements will contribute to a strong finish in Q4 2023 [16][17] Other Important Information - The company generated $68 million in cash from operations in Q2, ending the quarter with total liquidity of approximately $770 million [14] - A $75 million share repurchase program is expected to be completed by the end of the year [14] Q&A Session Summary Question: Expansion on $1.2 billion in new contracts - Management confirmed that the new contracts should be accretive, with an expected incremental EBITDA of $40 million to $50 million from these commitments [26] Question: Titanium trends and share gains - Management noted aggressive share gains in titanium, with lead times extending into 2024 and pricing reflecting a seller's market [30][31] Question: HPMC margin performance - The strong margin in HPMC was attributed to volume and price/mix, with improvements in throughput and operational efficiencies [35][36] Question: Non-A&D demand headwinds in AA&S - Management expects a slight decline in Q3 for AA&S, stabilizing in Q4 before recovering in Q1 2024 [38][41] Question: Nickel pass-through and pension impact - Management indicated that higher nickel prices have been a headwind but do not expect this to continue into 2025 [44][47] Question: Future opportunities in titanium - Management believes there are still opportunities for share gains in titanium, particularly as the wide-body market recovers [51][52]

Proven to per form anywhere. Second Quarter 2023 Earnings August 2, 2023 ...

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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commis ...

ATI Inc. (NYSE:ATI) Q1 2023 Earnings Conference Call May 4, 2023 10:30 AM ET Company Participants Tom Wright - IR Robert Wetherbee - Board Chair, President, and CEO Kimberly Fields - Executive Vice President and COO Donald Newman - Executive Vice President and CFO Conference Call Participants Richard Safran - Seaport Research Partners Philip Gibbs - KeyBanc Seth Seifman - JPMorgan David Strauss - Barclays Gautam Khanna - Cowen Operator Hello, everyone, and welcome to the ATI First Quarter 2023 Earnings Call ...

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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Title of each class Trading Symbol Name of each exchange on which registered Common stock, par value $0.10 ATI New York Stock Exchange For the fiscal year ended December 31, 2022 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 1- ...

ATI Inc. (NYSE:ATI) Q4 2022 Earnings Conference Call February 2, 2022 10:30 AM ET Company Participants Tom Wright - IR Bob Wetherbee - Board Chair, President and CEO Don Newman - EVP and CFO Conference Call Participants Richard Safran - Seaport Global Phil Gibbs - KeyBanc Capital Markets Seth Seifman - JPMorgan Gautam Khanna - Cowen David Strauss - Barclays Timna Tanners - Wolfe Research Operator Good morning. My name is Lauren and I'll be your conference operator today. At this time, I would like to welcom ...