ATI Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 02, 2022 at 07:36 am
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ATI Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 1,032 million compared to USD 725.7 million a year ago. Net income was USD 61.1 million compared to USD 48.7 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 0.35 a year ago.
For the nine months, sales was USD 2,825.6 million compared to USD 2,034.4 million a year ago. Net income was USD 54 million compared to net loss of USD 8.4 million a year ago. Basic earnings per share from continuing operations was USD 0.43 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
ATI Inc. is an integrated specialty materials and components company. The Company operates through two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). Its HPMC segment produces a range of high-performance materials, including titanium and titanium-based alloys, nickel- and cobalt-based and other specialty materials, in long product forms such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, components, and machined parts. Its HPMC segment products are used in aerospace and defense, medical, and energy markets. The Companyâs AA&S segment produces zirconium and related alloys, including hafnium and niobium, nickel-based alloys, titanium and titanium-based alloys, and specialty alloys in a variety of forms including plate, sheet and Precision Rolled Strip (PRS) products. Its AA&S products are used in energy, aerospace and defense, automotive, and electronics markets.