ATI Q3 sales $1.05B, adj EPS $0.60; cuts FY2024 guidance on aerospace uncertainty

ATI INC

2024-Q3 EPS reported $1.61 revenue$3,189,400,000

Q3 net income $82.7M ($0.57 diluted EPS); adjusted EPS $0.60; sales +2% YoY to $1.05B.
HPMC segment EBITDA margin 22.3% (+210bps QoQ) on next-gen jet engine growth.
AA&S segment EBITDA margin 14.8% (-160bps QoQ) on lower titanium/exotic alloy deliveries.
FY2024 guidance cut: adjusted EBITDA now $700-710M (was $720-750M); adj EPS $2.24-2.30 (was $2.40-2.60).
Redeemed $291.4M convertible notes; Board authorized $700M share repurchase; $660M remaining.

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