ATI (ATI)
NYSE:ATI
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Earnings Data
Report Date
Jul 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.02Last Year’s EPS
0.74Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a clearly positive operational and financial trajectory: strong Q1 revenue and margin expansion, record $4.1B backlog, a substantial free-cash-flow turnaround, raised full-year guidance, notable defense and specialty energy contract wins, and tangible productivity gains. The principal risks are isolated: a Q1 airframe revenue decline, softer industrial/medical/electronics end markets, remaining debottlenecking capacity that only fully comes online later in 2026–2027, tariff uncertainty and some lumpy revenue timing. Overall, the positives (material margin expansion, backlog growth, cash-flow improvement, raised guidance and strategic contracts) materially outweigh the limited and manageable challenges cited.Company Guidance
Revenue and Mix
Q1 revenue of $1.15 billion with 69% attributed to aerospace & defense; company expects A&D to represent >70% of full year sales as mix shifts toward higher-value markets.
Adjusted EBITDA and Margin Expansion
Q1 adjusted EBITDA of $232 million, up 19% year-over-year; consolidated adjusted EBITDA margin ~20.1%, expanded by more than 300 basis points year-over-year.
Record Backlog and Lead Time Visibility
Order backlog grew 10% sequentially to an all-time high of $4.1 billion; lead times extended for differentiated products (super-alloy nickels, premium titanium, isothermal forgings), providing multi-quarter to multi-year visibility.
Free Cash Flow Turnaround
Adjusted free cash flow of $75 million in Q1 versus a use of $143 million in Q1 last year — a $218 million year-over-year improvement; full year adjusted FCF guidance raised to $465M–$525M (midpoint $495M), ~30% above 2025.
Guidance Raise and 2026 Outlook
Raised full year adjusted EBITDA guidance by $35 million to a range of $1.01B–$1.06B (midpoint $1.035B, +20% YoY); adjusted EPS guidance set at $4.20–$4.48; Q2 EBITDA guide $245M–$255M (midpoint ~8% sequential increase).
Segment-Level Margin Gains
HPMC reported 24.9% margin (up ~250 bps YoY); AA&S reported 18.1% margin (up ~320 bps YoY). Management expects consolidated incremental margins of ~40%.
Aerospace (Jet Engines) Strength
Jet engine sales up 12% YoY and represent ~40% of sales in the quarter; management sees mid-teens growth for jet engine revenue full-year driven by OEM production, aftermarket MRO and higher content on next‑gen engines.
Defense Momentum and Major Contracts
Defense revenue up 9% YoY in Q1 with missile-related revenue more than doubling YoY; renewed a 5-year naval nuclear agreement projected to generate $1 billion over the term (more than doubling prior annual revenue from that contract).
Specialty Energy Growth and Strategic Partnership
Specialty energy revenue grew 22% YoY in Q1; extended a 5-year agreement with Cameco (~$250 million) improving product mix and pricing and positioning AA&S for more aero-like margins over time.
Operational Productivity Improvements
Weekly output at primary melt facilities increased >15% YoY; record shipments across multiple product lines; debottlenecking and quality initiatives improving throughput and yields ahead of capital expansions.
Capital Allocation to Shareholders
Repurchased $75 million of shares in Q1 and increased share repurchase authorization by $500 million (remaining authorization $545 million), signaling emphasis on returning capital as FCF improves.
Planned Capacity Investments
Nickel remelt capacity scheduled to come online late 2026 and primary VIM melting next year; titanium investments in qualification phase to support premium engine demand — projects on schedule and on budget according to management.
ATI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ATI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $146.23 | $155.46 | +6.31% |
Feb 03, 2026 | $121.77 | $128.34 | +5.40% |
Oct 28, 2025 | $91.71 | $98.53 | +7.44% |
Jul 31, 2025 | $94.24 | $76.94 | -18.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does ATI (ATI) report earnings?
ATI (ATI) is schdueled to report earning on Jul 30, 2026, Before Open (Confirmed).
What is ATI (ATI) earnings time?
ATI (ATI) earnings time is at Jul 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ATI EPS forecast?
ATI EPS forecast for the fiscal quarter 2026 (Q2) is 1.02.