ATI(US:ATI)2024-02-01 16:38Financial Performance - Fourth quarter revenue was $1.064 billion, a 5% increase compared to Q4 2022's $1.010 billion[7] - Full year revenue reached $4.174 billion, a 9% increase from $3.836 billion in 2022[10] - Full year free cash flow generation was $165 million[4] Segment Performance - High Performance Materials & Components (HPMC) segment revenue in Q4 2023 was $583 million, a 31% increase compared to $446 million in Q4 2022[7] - HPMC segment EBITDA increased by 50% to $125 million in Q4 2023, compared to $84 million in Q4 2022[7] - Advanced Alloys & Solutions (AA&S) segment revenue in Q4 2023 was $482 million, a 15% decrease compared to $565 million in Q4 2022[7] Strategic Progress - A&D (Aerospace and Defense) accounted for 63% of sales in Q4, up from 61% in Q3 2023 and 53% in Q4 2022[4] - Titanium shipments increased by 12% sequentially and 58% year-over-year[4] - The company successfully annuitized 85% of ATI qualified defined benefit pension liabilities in the fourth quarter[4] Market Outlook - Jet engine sales in Q4 2023 increased 7% sequentially and 15% year-over-year, with full year 2023 sales increasing 25% over 2022[4] - Airframe sales increased 47% compared to Q4 2022[5] - Defense sales increased 16% compared to Q4 2022[5]