ATI sees sequential, y/y earnings growth in Q4

Q4 EPS, revenue consensus 61c/$1.1B, respectively. “We continue to drive increased margins to generate cash and deploy it effectively. As new long-term agreements accelerate, we are working proactively with our customers to meet their production needs,” said CEO Wetherbee. “We expect sequential and year-over-year ATI earnings growth in the fourth quarter, led by our HPMC segment. HPMC EBITDA margins in the fourth quarter are expected to continue to improve year-over-year, in line with our prior guidance. Backlogs remain strong across aerospace and defense. We continue to optimize operations and resolve bottlenecks that come with growing demand. Continued process optimization will favorably impact future growth and performance. In the AA&S segment, the Company assumes stable performance in the fourth quarter 2023, due to sustained growth in the aerospace and defense related markets. These benefits will help offset certain recessionary forces impacting this segment. The Company expects to generate significant cash from operations in the fourth quarter primarily due to improvements in managed working capital as we make progress on our ongoing strategic growth projects.”