Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Allegheny Technologies (ATI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question.Allegheny Technologies is a member of the Basic Materials sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...

Experienced leader with track record of increasing operational performanceDALLAS, May 2, 2024 /PRNewswire/ -- ATI Inc. (NYSE: ATI) announces that Netta Washington has joined as Executive Vice President, leading the company's High Performance Materials and Components (HPMC) segment. Washington will guide the strategy and performance of the businesses within HPMC, helping to continue building the synergies and optimizing the supply chain between these strong businesses. Washington will be based at ATI's Dalla ...

ATI Inc. (ATI) recorded a profit of $66.1 million or 46 cents per share in first-quarter 2024 compared with the year-ago quarter's $84.5 million or 58 cents.ATI posted adjusted earnings of 48 cents per share, down 19% from the year-ago quarter’s figure of 59 cents. Adjusted earnings exceeded the Zacks Consensus Estimate of 41 cents.The company’s net sales in the first quarter were $1,042.9 million, exceeding the Zacks Consensus Estimate of $1,011.7 million. Net sales remained flat year over year. ATI saw st ...

ATI, Inc. (NYSE:ATI) Q1 2024 Earnings Conference Call April 30, 2024 8:30 AM ET Company Participants David Weston - Vice President, Investor Relations Robert Wetherbee - Board Chair and Chief Executive Officer Kimberly Fields - President and Chief Operating Officer Don Newman - Executive Vice President, Finance and Chief Financial Officer Conference Call Participants Michael Leshock - KeyBanc Capital Markets Richard Safran - Seaport Global Securities David Strauss - Barclays Scott Deuschle - Deutsche Bank C ...

A solid quarter is alleviating some of the concern surrounding this aerospace stock.Material sciences specialist ATI (ATI 16.42%) reported a strong first quarter, and its guidance implies that issues at Boeing are not softening demand for its products. Investors are relieved, sending ATI shares up 17% as of 2 p.m. ET.Steady results in a tough environmentATI makes high-performance materials for the aerospace, defense, healthcare, and energy markets. It is best known for the composite fibers used to replace h ...

Financial Performance - First quarter 2024 sales were $1.04 billion, flat compared to $1.04 billion in the first quarter of 2023, with aerospace & defense sales increasing to 59% of total sales from 56%[109] - Gross profit for the first quarter of 2024 was $197.4 million, or 18.9% of sales, up from $193.2 million, or 18.6% of sales in the first quarter of 2023[109] - Adjusted EBITDA for the first quarter 2024 was $151.0 million, or 14.5% of sales, compared to $147.1 million, or 14.2% of sales in the prior year[112] - Segment EBITDA for the first quarter 2024 was $169.4 million, or 16.2% of sales, compared to $165.3 million, or 15.9% of sales for the first quarter of 2023[118] - Net income attributable to ATI was $66.1 million, or $0.46 per share, down from $84.5 million, or $0.58 per share in the first quarter of 2023[111] - The company reported a net income of $68.4 million for the quarter ended March 31, 2024, compared to $86.6 million for the same period in 2023[144] Sales and Market Performance - International sales increased to $471 million, or 45% of total sales, from $450 million, or 43% of total sales in the first quarter of 2023[114] - Sales in the aerospace & defense markets increased 7% to $616 million in the first quarter 2024, compared to $576 million in the first quarter 2023[113] - The medical market sales more than doubled compared to the prior year period, contributing to overall growth in the HPMC segment[113] - First quarter 2024 sales for the High Performance Materials & Components Segment were $529.9 million, a 13% increase compared to the first quarter 2023, driven by strong demand in aerospace & defense markets[124] - Advanced Alloys & Solutions Segment sales decreased to $513.0 million, a 10% decline compared to the first quarter of 2023, primarily due to prolonged recovery in general industrial end markets[128] Expenses and Costs - Interest expense increased to $26.6 million in the first quarter of 2024 from $19.9 million in the first quarter of 2023 due to the issuance of $425 million Senior Notes[110] - Corporate expenses for the first quarter of 2024 were $17.1 million, slightly up from $16.9 million in the first quarter 2023[132] - Cash used in operations was $98.8 million in Q1 2024, a significant decrease from $285.2 million in Q1 2023, reflecting improved management of working capital[145] - Cash used in investing activities was $63.8 million in Q1 2024, primarily for capital expenditures related to AA&S transformation projects[146] - Interest expense increased to $26.6 million in Q1 2024 from $19.9 million in Q1 2023, indicating higher borrowing costs[144] Working Capital and Liquidity - Managed Working Capital increased to 35.9% of annualized sales as of March 31, 2024, compared to 31.1% at December 31, 2023[121] - Managed working capital increased to $1,498.7 million as of March 31, 2024, compared to $1,321.9 million as of December 31, 2023, representing 35.9% of annualized sales[123] - The company expects to meet its liquidity needs through internally generated funds and available borrowings under the ABL facility, with no significant contributions required to the pension plan in 2024[140] - As of March 31, 2024, the company had $394 million in cash and cash equivalents, with additional liquidity of approximately $557 million under the ABL facility[138] Debt and Financial Ratios - The total debt to Adjusted EBITDA ratio was 3.43 as of March 31, 2024, slightly improved from 3.47 at year-end 2023[144] - The net debt to Adjusted EBITDA ratio increased to 2.82 in Q1 2024 from 2.29 at year-end 2023, primarily due to a decreased cash balance[144] Investments and Future Outlook - The company continues to invest in hiring new employees and expanding titanium melt capacity to meet increased demand in the aerospace & defense markets[127] - The company expects margin expansion within the Advanced Alloys & Solutions Segment through 2024 due to improved sales mix and operating performance[131] - The company utilized $150 million to repurchase 3.4 million shares of its common stock in the quarter ended March 31, 2024, fully utilizing the authorized amount under the Share Repurchase Program[139] Hedging and Commodity Costs - The company uses approximately 6 to 8 million MMBtu's of natural gas annually, with a hypothetical $1.00 per MMBtu increase resulting in increased annual energy costs of approximately $6 to $8 million[162] - As of March 31, 2024, the net mark-to-market valuation of outstanding natural gas hedges was an unrealized pre-tax loss of $6.2 million[163] - The company used approximately 70 million pounds of nickel in 2023, with a hypothetical $1.00 per pound change resulting in increased costs of approximately $70 million[164] - As of March 31, 2024, the net mark-to-market valuation of outstanding raw material hedges was an unrealized pre-tax loss of $4.5 million[165] - Approximately 70% of the company's forecasted domestic requirements for natural gas for the remainder of 2024 are hedged[163] - The company has entered into financial hedging arrangements for an aggregate notional amount of approximately 2 million pounds of nickel, which is less than 5% of a single year's estimated nickel raw material purchase requirements[165] - The company monitors third-party financial institutions daily to minimize exposure to any one entity in its derivative financial instruments[158] - The company has no material outstanding foreign currency forward contracts as of March 31, 2024[166] - The company anticipates that increases in energy costs may adversely affect profitability due to heightened cost sensitivity among suppliers and customers[162]

Allegheny Technologies (ATI) reported $1.04 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.5%. EPS of $0.48 for the same period compares to $0.49 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.01 billion, representing a surprise of +3.09%. The company delivered an EPS surprise of +17.07%, with the consensus EPS estimate being $0.41.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Allegheny Technologies (ATI) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.07%. A quarter ago, it was expected that this maker of steel and specialty metals would post earnings of $0.62 per share when it actually produced earnings of $0.64, delivering a surprise of 3.23%.Over the ...