ATI(ATI) - 2021 Q2 - Earnings Call Presentation

Financial Performance - ATI's Q2 2021 revenue was $616 million, down 11% compared to Q1 2021 and down 20% compared to Q2 2020[11] - The HPMC segment's EBITDA margin increased by 220 bps compared to Q1 2021 and 290 bps compared to the prior year[6] - Free cash flow usage was ($68) million in Q2 2021[14] - The USW strike had a ($40) million cost impact in Q2 2021, which was excluded from adjusted earnings[6] Segment Performance - AA&S segment revenue was $301 million, down 30% sequentially and 33% year-over-year[11] - HPMC segment revenue was $316 million, up 25% sequentially but flat year-over-year[11] - Jet engine revenue increased by 22% compared to Q1 2021[6] - Airframe revenue increased by 20% compared to Q1 2021[9] Strategic Initiatives and Balance Sheet - Total cash and available liquidity were approximately $830 million, including $473 million cash on hand[8] - The net debt/adjusted EBITDA ratio was 75x at the end of Q2 2021[14] - The company anticipates approximately $100 million in incremental cost savings for 2021[18]