ATI reports Q2 adjusted EPS 59c, consensus 55c

Reports Q2 revenue $1.05B, consensus $1.07B. “ATI‘s growth as an aerospace and defense leader continues,” said Robert S. Wetherbee, Board Chair and CEO. “As demand accelerates, the percentage of our revenue attributed to aerospace and defense reached 58%, up from 46% in the Q2 of 2022. We are making rapid progress toward our aerospace and defense sales goal of 65%,” he said. “Strong execution and operational performance drove further margin expansion in the second quarter, with our High Performance Materials and Components segment delivering 20.5% EBITDA margins, up from 17.0% in the prior quarter,” said Wetherbee. “Overall, consolidated margins were up 150 basis points. This reflects improving operating leverage from higher production volumes and incredible work by the entire ATI team.”