ATI reports Q2 adjusted EPS 60c, consensus 58c

Reports Q2 revenue $1.1B, consensus $1.11B. “ATI‘s strong 2024 performance continued in the second quarter,” said Kimberly Fields, President and CEO. “Growth in aerospace & defense accelerated in the second quarter, with sales increasing sequentially by 11%. This is due in part to the diversification in our jet engine and airframe customer bases. ATI is on every major commercial platform flying today,” she said. “With a strong focus on execution, we delivered on second quarter expectations for adjusted EBITDA and adjusted earnings per share,” said Fields. “Our efforts to improve working capital intensity yielded significant improvements in year-over-year operating cash flow performance,” she said. “Overall, consolidated adjusted EBITDA, as a percentage of sales, was up 100 basis points over the prior year, reflecting improving operational performance and leverage from higher production volumes.”