ATI changes pension accounting; FY 2023 adj. EPS guidance raised to $2.49-$2.59

ATI INC

Voluntary accounting change: actuarial gains/losses on pension plans recognized immediately in annual earnings.
Full year 2023 Adjusted EPS range increased from $2.20-$2.30 to $2.49-$2.59 due to the change.
Cumulative effect on Jan 1, 2021: retained earnings decreased $1.07B with offset to accumulated other comprehensive loss.
Q4 2023 Adjusted EPS guidance unchanged at $0.57-$0.67; pension annuitizations offset the change.
Prior periods retrospectively adjusted; unaudited financial statements for 2021-2023 YTD furnished.

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