ATI
ATI Inc.108.66
-0.06-0.06%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Defense details, share gains, capacity flex.
Q&A unpacked defense growth drivers, pegging missiles at 20% of segment (up 127% in '25 via PAC-3/THAAD C103 wins) and naval at 35-40%, accelerating to mid-teens in '26. Early-year share gains emerged in defense, jet engines, and specialty energy as peers struggle with ramps. Airframe outlook holds mid-high single digits, conservatively H2-loaded with inventories normalizing and Boeing momentum. New VIM (fifth unit) adds 8-10% nickel capacity for $350M incremental revenue by mid-'28, 80% contracted with customer funding boosting >30% returns; ATI retains flex beyond right-of-first-refusal. Peers falter; ATI grabs share. Lead times doubled on specialties. Management stayed confident on 2027 targets sans update, what investors will track next.
Key Stats
Market Cap
14.98BP/E (TTM)
35.05Basic EPS (TTM)
3.10Dividend Yield
0%Recent Filings
10-K
FY2025 10-K filed
ATI Inc. filed its 10-K for FY2025 ended December 28, 2025, with 136.9 million common shares outstanding as of January 30, 2026. Market value of non-affiliate shares hit $12.0 billion at June 29, 2025 close of $86.80. Exhibits detail executive PSUs tied to share price hurdles through 2029, TSR versus peers, and adjusted EBITDA margin growth for 2026-2028. Time-vested RSUs vest ratably through 2029. All awards enforce one-year non-compete in aerospace, defense, and energy markets. No financial results or Q4 metrics disclosed in the 10-K. Strong supply chain disruptions threaten quarterly momentum.
8-K
ATI boosts buyback by $500M
ATI's Board authorized an additional $500 million share repurchase on February 18, 2026, combining with $120 million remaining from prior approval for a multi-year program. Repurchases will follow market conditions via open market or private deals under SEC Rule 10b-18, yet remain flexible for suspension. CEO Fields cites strong financials and aerospace focus. Risks include economic shifts and supply volatility.
8-K
Q4 sales $1.18B, strong guidance
ATI Inc. reported Q4 2025 sales of $1.18B, up 5% sequentially, with adjusted EBITDA of $232M at 19.7% margins. Full-year sales hit $4.6B, the highest since 2012, fueled by 68% aerospace & defense mix; operating cash flow soared to $614M. Guidance calls for FY2026 adjusted EBITDA of $975M-$1,025M. Debt fell after $150M repayment.
8-K
CFO succession announced
ATI appointed J. Robert Foster as Senior VP, Finance and CFO effective January 1, 2026, succeeding Don Newman, who shifts to Strategic Advisor through retirement on March 1. Foster, an internal veteran with P&L leadership, gets $625,000 base and 200% LTI target. Tina Busch resigned as CHRO December 5, now consulting through January 2027 at $10,000 monthly with non-compete to 2028. Leadership refresh signals continuity.
8-K
Fields named Board Chair
ATI Inc. elected President and CEO Kimberly A. Fields as Board Chair effective May 14, 2026, at its Annual Meeting, succeeding retiring Executive Chairman Robert S. Wetherbee. Fields, CEO since July 2024, has driven aerospace and defense revenues past 70%. Unified leadership sharpens strategy execution. Succession is smooth.
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