ATI Inc. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 results exceeded guidance with strong revenue, margin expansion, and record backlog. Raised full-year outlook for EBITDA, EPS, and cash flow, driven by robust aerospace, defense, and specialty energy demand. Share repurchases and major contract wins support long-term growth.
Fiscal Year 2025
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Q4 and full-year 2025 results exceeded expectations, with strong growth in aerospace and defense, margin expansion, and robust cash flow. 2026 guidance calls for continued double-digit EBITDA and EPS growth, driven by proprietary products, disciplined capital deployment, and increasing A&D and specialty energy mix.
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Q3 saw revenue up 7% year-over-year, record margins, and strong cash generation, driven by robust aerospace and defense demand. Guidance for 2025 was raised, with continued margin expansion and high-return investments expected to fuel growth into 2026.
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Q2 2025 saw revenue up 4% to $1.14B, adjusted EBITDA of $208M, and strong growth in commercial jet engines and defense. New long-term contracts with Boeing and Airbus, capacity investments, and robust cash flow support an improved outlook for 2025.
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Portfolio transformation and innovation have positioned the business as a key supplier in aerospace, defense, and energy, with strong growth in jet engines and aftermarket services. Capacity expansions, long-term contracts, and proprietary technologies support margin expansion and robust financial performance.
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Q1 2025 saw 10% revenue growth and strong A&D demand, with adjusted EBITDA and EPS exceeding guidance. Full-year outlook is reaffirmed, with robust jet engine and defense sales expected to offset industrial softness. Share buybacks and new contracts support future growth.
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Union contract negotiations continue with optimism for resolution by April 30. Strong demand in aerospace and defense, especially for jet engines, is driving growth, with significant investments in capacity and technology. Margin expansion is expected through operational improvements and favorable market dynamics.
Fiscal Year 2024
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Q4 revenue and adjusted EBITDA exceeded guidance, capping a record year for revenue and margin expansion. 2025 outlook calls for continued growth, with robust demand in aerospace, defense, and specialty energy, and strong free cash flow and capital returns expected.
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Q3 2024 results missed guidance due to late-quarter demand volatility and operational issues, but margins improved and backlog remained stable. Guidance for Q4 and full-year 2024 was lowered, yet long-term targets for 2025 and 2027 remain intact, supported by strong aerospace and defense demand.
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Aerospace and defense demand remains strong, with diversified exposure and robust MRO activity. Significant titanium capacity expansion is underway to address supply chain risks, while a $700M share repurchase and disciplined capital strategy support growth. Margins are set to expand, driven by favorable pricing and operational improvements.
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Quarterly sales hit a decade high, driven by aerospace and defense demand, with strong margin expansion and over $4B in new sales commitments. Guidance for EPS and EBITDA was raised, backlog reached $4.1B, and capacity expansions are on track to support future growth.
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Aerospace and defense drive 65% of revenue, with strong growth in defense and MRO segments. Capacity expansions, debottlenecking, and contract strategies support higher EBITDA and margins, while capital deployment balances growth, deleveraging, and shareholder returns.