Form 8-K · Current Report · Filed 2024-02-01
ATI Inc. Reports Strong Q4 2023 Financial Results with Revenue Growth and Earnings Beat
On February 1, 2024, ATI Inc. reported strong financial results for the fourth quarter of 2023, with total sales of $1.06 billion, a 5% increase from the same period in 2022. The company reported net income attributable to ATI of $145.7 million, or $0.99 per share, and adjusted EBITDA of $160.7 million, or 15.1% of sales. ATI's aerospace and defense segment showed significant growth, contributing 63% of total sales for the quarter. The company also repurchased stock under its authorized repurchase plan. The detailed financial results and further management commentary are provided in the press release included as Exhibit 99.1 to this 8-K filing.
- Filer
- ATI Inc. ATI · NYSE
- Filed
- Accession
- 0001628280-24-002807
- CIK
- 0001018963
- Signal
- Medium impactIndustrials
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$40.87
Next session
-4.2%
Since filing
+358.6%
Latest close
$187.44
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from ATI reporting the same item, with the next session's move:
Exhibits (1)
About ATI Inc.
ATI Inc. is a prominent player in the specialty materials sector, focusing primarily on the production and supply of advanced materials and components. The company's primary function is to provide high-performance materials solutions, including titanium, nickel-based alloys, and specialty steels, which play a critical role in high-stress and demanding environments. ATI Inc.'s offerings are integral to several key industries, notably aerospace and defense, where they contribute to the creation of robust, lightweight, and durable components. Additionally, the company serves the energy, electronics, and biomedical sectors, supplying materials that meet stringent technical and regulatory requirements. The significance of ATI Inc. in the financial market is grounded in its capability to innovate and meet the evolving needs of industries that demand exceptional material performance. Through its commitment to research and development, ATI Inc. continues to enhance its product portfolio, thereby maintaining a competitive edge. This emphasis on technological advancement not only fortifies its market position but also helps facilitate broader industrial progress in sectors reliant on cutting-edge materials and manufacturing techniques.
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