ATI Q2 sales $1.10B (+5% QoQ); A&D 62% of sales; adj. EBITDA $182.6M; reaffirms FY and 2027 outlook

ATI INC

2024-Q2 EPS reported $1.04 revenue$2,138,200,000

Q2 2024 sales $1.10B (+5% QoQ); net income $81.9M ($0.58 EPS); adj. EPS $0.60.
Aerospace & defense 62% of sales (up from 59% in Q1); HPMC A&D sales +8% sequentially.
Adjusted EBITDA $182.6M (16.7% margin, +21% QoQ); HPMC EBITDA $113.8M, AA&S $87.5M.
Operating cash flow $101M in Q2; cash $426M; no ABL borrowings; no debt maturities until Q2 2025.
Reaffirmed FY2024 guidance; $4B new sales commitments at Farnborough; on track for >$5B revenue and >$1B adj. EBITDA by 2027.

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