ATI reports Q3 adjusted EPS 55c, consensus 53c

Reports Q3 revenue $1.03B, consensus $1.03B. “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 61%, up 10 percentage points over last year, and rapidly progressing toward our goal of 65%,” he said. “Results in our HPMC segment were driven by growth in aerospace and defense,” said Wetherbee. “Third quarter segment sales and EBITDA margins were up significantly versus the prior year. Sequential growth was modest due to normal business seasonality. Commercial airframe product sales in the segment more than doubled compared to the prior year, as the aerospace ramp continues.”