ATI (ATI) Company Report

ATI reported strong Q3 2025 results, with revenue up 7% year over year exceeding $1.1 billion, adjusted EPS of $0.85, and adjusted EBITDA of $215 million (excluding asset sales).
The company raised its full-year 2025 guidance, forecasting adjusted EBITDA between $848 million and $858 million and adjusted free cash flow between $330 million and $370 million.
Aerospace and Defense (A&D) revenue grew 21% year over year in Q3, now representing an all-time high of 70% of total revenue, driven by a 51% year over year increase in defense markets and 19% year over year growth in jet engines.
ATI generated $299 million in cash from operations year-to-date and returned $150 million to shareholders through share repurchases in Q3.
Operational improvements, including increased throughput and efficiency, have expanded available capacity by approximately 10%.

Oct 28, 2025, 12:30 PM

Transcript

ATI Reports Strong Q3 2025 Results and Raises Full-Year Guidance

ATI

Earnings

Guidance Update

CFO Change

ATI reported strong Q3 2025 results, with revenue exceeding $1.1 billion and Adjusted EPS of $0.85, which was $0.10 above the high end of their projected range. Adjusted EBITDA totaled $225 million, or $215 million excluding a $10 million gain from oil and gas rights sales. The Adjusted EBITDA margin exceeded 20%.
The company raised its full-year 2025 guidance for Adjusted EBITDA and Adjusted Free Cash Flow, with the midpoint of Adjusted EBITDA increasing by $28 million and Adjusted Free Cash Flow by $40 million.
Aerospace and Defense (A&D) revenue rose 21% year-over-year in Q3, reaching an all-time high of 70% of total revenue. Both segments delivered excellent profitability, with High Performance Materials & Components (HPMC) segment margins above 24% and Advanced Alloys & Solutions (AANS) segment margins above 17%.
ATI generated $299 million in cash from operations year-to-date and returned $150 million to shareholders this quarter through share repurchases.
EVP and CFO Don Newman announced his retirement from his role as CFO following the fourth quarter.

Metric	Q3 2025	FY 2025 Guidance
Revenue ($USD Millions)	>$1,100	N/A
Adjusted EPS ($USD)	$0.85	$3.18
Adjusted EBITDA ($USD Millions)	$225	$853
Adjusted EBITDA (excl. O&G) ($USD Millions)	$215	N/A
Adjusted EBITDA Margin (%)	>20	N/A
Adjusted Free Cash Flow ($USD Millions)	N/A	$350
Capital Expenditures ($USD Millions)	N/A	$270

Oct 28, 2025, 12:30 PM

Transcript

ATI Reports Strong Q3 2025 Results with Raised Full-Year Guidance

ATI

Earnings

Guidance Update

Share Buyback

ATI reported strong Q3 2025 financial results, with sales reaching $1.126 billion, a 7% increase year-over-year, and Adjusted EBITDA growing 21% year-over-year to $225 million.
Adjusted EPS significantly increased by 42% year-over-year to $0.85 in Q3 2025, while the Adjusted EBITDA margin expanded by 230 basis points year-over-year to 20%.
Growth was primarily driven by the Aerospace & Defense (A&D) segment, which represented 70% of total sales at $793 million in Q3 2025, fueled by 51% year-over-year growth in Defense and 19% year-over-year growth in Jet Engine sales.
ATI raised its full-year 2025 guidance for Adjusted EPS, Adjusted EBITDA, and Adjusted Free Cash Flow, and repurchased $150 million in shares during Q3 2025.

Oct 28, 2025, 12:30 PM

Presentation

ATI Reports Strong Q3 2025 Results and Raises Full-Year Guidance

ATI

Earnings

Guidance Update

CFO Change

ATI reported strong Q3 2025 results, with revenue up 7% year over year to over $1.1 billion, adjusted EPS of $0.85, and adjusted EBITDA of $215 million (excluding asset sales).
The company raised its full-year 2025 guidance, forecasting adjusted EBITDA between $848 million and $858 million and adjusted free cash flow between $330 million and $370 million.
Aerospace & Defense (A&D) revenue increased 21% year over year in Q3 2025, now representing 70% of total revenue, fueled by 51% growth in defense and 19% growth in jet engines.
Operational excellence and strategic investments, including expanded nickel melt capacity and increased titanium supply to Airbus, are driving margin expansion, with High Performance Materials & Components (HPMC) margins above 24% and Advanced Alloys & Solutions (AANS) margins above 17%.
Don Newman, EVP and CFO, is elected to retire following Q4 2025, with a search for his successor in progress.

Oct 28, 2025, 12:30 PM

Transcript

ATI Inc. Announces Strong Q3 2025 Results and Raises Full-Year Guidance

ATI

Earnings

Guidance Update

Share Buyback

ATI Inc. reported Q3 2025 sales of $1.13 billion, marking a 7% year-over-year increase, primarily driven by record aerospace & defense sales of $793 million.
GAAP net income attributable to ATI for Q3 2025 was $110 million, or $0.78 per share, representing a 33% year-over-year increase. Adjusted earnings per share reached $0.85, up from $0.60 in Q3 2024.
The company has raised its full-year 2025 guidance for adjusted earnings per share to a range of $3.15 - $3.21 and adjusted free cash flow to $330 million - $370 million.
During Q3 2025, ATI repurchased $150 million of its common stock at an average price of $76.07 per share, retiring approximately 2.0 million shares.

Oct 28, 2025, 11:45 AM

8-K

ATI Announces Third Quarter 2025 Results and Raises Full Year Guidance

ATI

Earnings

Guidance Update

Revenue Acceleration/Inflection

For the third quarter of 2025, ATI reported sales of $1.13 billion, an increase of 7% year-over-year, driven by a 21% increase in aerospace & defense sales.
Net income attributable to ATI was $110 million, up 33% year-over-year, with diluted earnings per share of $0.78.
Adjusted earnings per share were $0.85, a 42% increase compared to $0.60 in Q3 2024, and Adjusted EBITDA was $225 million, up 21% year-over-year.
Aerospace & defense sales reached a record $793 million, representing 70% of Q3 2025 sales.
The company raised its full-year 2025 guidance for Adjusted Earnings Per Share to a range of $3.15 - $3.21 (from $2.90 - $3.07) and Adjusted Free Cash Flow to $330M - $370M (from $270M - $350M).

Oct 28, 2025, 11:42 AM

Press Release

ATI Inc. Subsidiary Secures Accounts Receivable Securitization Facility

ATI

Debt Issuance

On September 19, 2025, ATI Specialty Materials, LLC, an indirect wholly-owned subsidiary of ATI Inc., entered into a three-year, $125 million accounts receivable securitization facility.
Under the facility, certain receivables are sold to special purpose entities, which then borrow from or sell receivables to purchaser/lenders.
As of September 25, 2025, approximately $80 million of loans and/or investments were outstanding under the Facility.

Sep 25, 2025, 8:58 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for ATI.

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