ATI's second-quarter earnings beat estimates, but sales lag the same amid aerospace and defense growth.
While the top- and bottom-line numbers for Allegheny Technologies (ATI) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Allegheny Technologies (ATI) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.59 per share a year ago.
Beyond analysts' top -and-bottom-line estimates for Allegheny Technologies (ATI), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
Allegheny Technologies (ATI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In the latest trading session, Allegheny Technologies (ATI) closed at $64.86, marking a -1.04% move from the previous day.
Allegheny Technologies (ATI) concluded the recent trading session at $65.54, signifying a +1.96% move from its prior day's close.
Allegheny Technologies (ATI) concluded the recent trading session at $59.06, signifying a -1.2% move from its prior day's close.
Allegheny Technologies (ATI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Here is how Allegheny Technologies (ATI) and Kronos Worldwide (KRO) have performed compared to their sector so far this year.
The AA&S segment remains weak but showing improvement, and the HPMC segment continues to show strength. Strong demand primarily in the A&D end market should continue to drive growth in the quarters ahead. Expected revenue growth, strong pricing and operational improvement should benefit margin.
Commercial aerospace has seen more than its share of bad press, with the latest being a report of faulty titanium components making it into Airbus and Boeing planes. Given how ATI sources its titanium, I see little direct risk to the company, but can't rule out that this leads to further interruptions in 2024 production schedules. Despite ongoing production challenges in the aerospace sector, ATI has a long runway ahead for revenue growth and margin improvement as widebody production accelerates in 2025 and 2026.